Marks and Spencer have announced that their Balham Simply Food store will be among those to close. This is obviously not good news, either for Balham Town Centre or the employees who will be losing their jobs.
But it’s also a reminder that recession is not just about businesses going into administration and names disappearing totally, but employers cutting costs and jobs being lost.
Marks and Spencer will remain, for the time being, elsewhere in the Borough, but in Balham there is going to be a big hole in the high street. I just hope at tonight’s Regeneration and Community Safety OSC meeting Labour don’t have the temerity to try blame the state of the pavements rather than their government’s economic failure.
I am surprised and saddened to hear that the Balham store, which was busy tonight, is closing. I am a frequent customer at that location. I suspect that the Clapham South store just up the hill must be more profitable (higher sales volume or lower rent). Not a good week for Balham.
No, not a good week, along with Woolies it will leave a big hole there. The Town Centre Partnership and Town Centre Manager will work to fill the gaps left, but it won’t be easy to do in a recession.