The Swindon branch of retail giant Footasylum is due to close in mid-October, this year, as the company’s lease on the prominent town centre unit comes to an end
Footasylum has confirmed that its shop at The Parade, Swindon, will be shutting its doors later this year, with signs already alerting shoppers to the impending closure.
In line with multiple closures of stores across the nation due to high street struggles to remain open amid rising rental costs, wages and online competitors, Footasylum joins brands like Poundland, Hobbycraft and Costa.
The Swindon store is set to close in mid-October when the company’s lease on the prime town centre unit expires. It comes after a high street chain launches 70% off closing down sales as 25 shops set to shut.
However, the streetwear chain has reassured fans that it won’t be leaving Swindon for good, revealing plans to move to a “bigger and better store” reports the Swindon Adviser.
A spokesperson for Footasylum stated: “Following the natural conclusion of the store’s lease, Footasylum will be closing its Swindon store as it has outgrown the site and requires a larger location to merchandise its full range.”
The spokesperson also added that the brand “hope to return with a bigger and better store when a suitable unit becomes available”.
Despite closing several locations earlier this year, Footasylum is planning to open eight new stores in 2025. The company recently announced record financial results and strong sales for the fiscal year 2025, with total revenue just under £350 million.
Footasylum has also released its record of it’s significant growth over the previous year leading up to January 25, 2025. Its total revenue increased to £349.5million in 2024. As well as this, the report read a 188% rise in pre-tax profit to £17.2million, stated Drapers.
The shoe-seller brought in a six percent increase in online sales, which now makes up for 41 percent of their total revenue, and a 101 percent rise in their exclusive brand sales.
With this follows this year’s plans for growth, their strategy including both new stores as well expanding existing ones. This list of locations included in the past year are:
- Aberdeen
- Warrington
- Doncaster
- Rotherham
- Wrexham
- Dudley
With plans for six new stores to open by the end of 2025 – one of which being Parc Trostre in Llanelli – Footasylum shares they plan to carry on this strategy into 2026. The Retail Bulletin notes that this plan is based on the positive result of its flagship store in Oxford Street, London.