British Chocolate retailer Thorntons to close 180 stores as part of new business strategy

By on Jun 28, 2011 in Business, Europe, Food Comments

British chocolate retailer Thorntons is being set to close its 180 stores over the next three years as part of building a new business strategy.



Thorntons centennial logo
Image Credit: Thorntons.co.uk

According to a press release at Investegate.co.uk on Tuesday, June 28, 2011, Thorntons said that the company aims to “re-balance the organization and capitalize on its brand strength”.

Thorntons is a strong, trusted and highly valuable brand with excellent potential.” Thorntons’ CEO Jonathan Hart was quoted on the report, noting that he is confident that the strategy is right.

“Our goal is to refocus the business across all channels and seek to deliver industry competitive returns over the next three to five years.” Hart added, as the company vows to continue meeting the changing needs of their customers.

Nevertheless, Hart explained that Thorntons will retain their existing presence on the High Street through their “Own Stores and Franchise business”.

As noted at Telegraph, Thorntons will close its 120 stores over three years and may close another 60 stores within the same period, which is around thirty percent of all their stores.

As of this writing, Thorntons was noted to have 364 own stores and 227 franchise outlets and has 4,000 employees, as a franchise will be opened in the area where a store will be closed.



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