By Mal Butler
Two branches of ironmongers Hurst’s, at Ventnor and Freshwater, are to close with a third in Shanklin at risk, involving a number of job losses.
The popular Island retailer dates back to 1859, when Charles Wheeler opened a foundry, and the business mainly supplied materials and carried out implement repairs to the then booming farming industry.
However, managing director of Hurst’s, Jevon Kennedy, blamed the challenge of on-line retailers, competition from local branches of national companies, and rising operational costs related to recent government decisions, among the reasons for its decision.
A statement read: “As a distinguished independent retailer, W Hurst & Son (IW) Ltd with a 166-year legacy on the Isle of Wight, announce a strategic realignment of our operations to ensure long-term sustainability amidst a shifting retail environment.
“Earlier this year, the company implemented a voluntary redundancy programme. Subsequently, W Hurst & Son has continued to experience downward pressure on sales and footfall, a trend that has persisted since the pandemic.
“Despite proactive and ongoing efforts to adapt to evolving consumer shopping habits, the business is facing significant challenges stemming from the convenience offered by multinational on-line retailers and increased local competition from national brands over the past decade.
“Rising operational costs, influenced by recent UK budgetary measures, further compound the difficulties for an independent retail business of our size to maintain sustainability in the current economic climate, which is also impacted by global external factors and the broader UK economy.
“Following a comprehensive financial review, the company has made the difficult decision to announce the proposal to close the Ventnor and Freshwater branches, joining a growing number of retailers adapting to the current economic realities. W Hurst & Son (IW) Ltd expresses its deep appreciation for the years of support from the communities and loyal customers in both Ventnor and Freshwater. Trading will continue in these locations throughout the summer, with proposed final closures anticipated upon the sale of the properties.
“Regrettably, the proposed branch closures will necessitate a further redundancy programme. Additionally, we are undertaking a thorough assessment of our Shanklin branch, which is now at risk of potential closure. The company is committed to exploring all possible avenues to maintain operations in Shanklin, and will closely monitor performance and trading conditions before a final determination is made.
“Customers can continue to shop with confidence at W Hurst & Son’s remaining locations in Cowes, Ryde, and Newport.
“It is with considerable sadness that we acknowledge the impact of these decisions on our valued colleagues, many of whom have demonstrated remarkable long-term commitment to the company.
“Finally, W Hurst & Son (IW) Ltd extends its sincere gratitude to its colleagues, customers, and local business partners for their unwavering support over the years.”
Ventnor & St Lawrence councillor, Ed Blake, said: “I have had an in-depth conversation with Jevon Kennedy, to discuss the proposed closure and the implications. This proposal has been very tough for the businesses management team to even contemplate, let alone action, and I appreciate the honesty Jevon voiced in our discussion.
“There is currently a consultation within the company to discuss the proposed closures of the Ventnor and Freshwater shops and this presents an opportunity for the community to raise any productive ideas they may have. Jevon has asked me to collate these ideas over the next week or so to present back to the management team for consideration.”
Isle of Wight Observer