News that New Look is shutting its Bishop’s Stortford shop will come as little surprise to consumers who have become used to national high street chains closing branches and axing jobs as they cut costs in pursuit of healthy profits, if not collapsing altogether.
In Stortford alone, fashion shops Dorothy Perkins, Burtons, Monsoon Accessorize, Claire’s and Sports Direct have left, along with retailer Wilco, restaurants Giggling Squid, Franco Manca and Zizzi, and Halifax bank.
Now New Look is ending its 23-year presence in the town. It originally opened in the current FatFace unit at the Potter Street entrance to Jackson Square shopping centre before moving further inside the precinct about 15 years ago. It will close on Wednesday, August 19.
New Look in Jackson Square will shut on Wednesday, August 19
But what will come as a shock is that later this autumn Barclays Bank will be moving into the vacant unit next to Sainsbury’s.
For Barclays, it marks a return to the town centre after a two-year absence, having closed its branch in North Street in April 2024.
At the time, the decision to shut was criticised by customers concerned at the impact on the elderly or infirm who are uncomfortable with internet banking or unable to travel further afield to other branches. As it happens, a Barclays Local operation was launched at South Mill Arts a week after the town centre withdrawal, with “in-person banking support” available weekdays.
Barclays Bank’s former branch in North Street has been vacant since April 2024
In a January 2024 statement on the closure, Barclays said: “Back when we opened this branch, visiting us in person was one of the only ways to do your banking. Now, as there are lots of ways to manage your money without even leaving your home, we’re seeing many customers choosing to bank using our app, and online or telephone banking.”
It said that 94% of people who used its North Street branch had also banked using those other means in 2024. Fewer than 10 regular customers used the branch as the only way to do their banking and 17% had used nearby branches in the previous 12 months.
Since 2015, Barclays has closed up to 1,140 branches in the UK, leaving 206 traditional outlets. So why is it returning to Bishop’s Stortford town centre, albeit not with a high street facade but, nevertheless, right next door to a major supermarket in a shopping centre?
In April, The Times reported that the banking giant was set to widen its presence by opening new branches, enlarging some existing sites and reintroducing the “bank manager” job title.
Barclays UK chief executive officer Vim Maru, who took charge in 2024, said he took an “early decision” to halt branch closures and was working towards a larger network than the current 206 locations.
“At the end of our plan we’ll have more than those,” he said. “I truly believe that the combination of great digital and great human touch is the future of banking. What we’re trying to do is something that allows us to differentiate in front of our customers.
“Of course we’re going to be great in digital – but we’re going to be there for you when you need some help and support. You’re not going to be stuck in some chatbot trying to get out of the loop and trying to speak to someone.”
Maru said the planned openings, which he did not put a number on, would be additional to shared banking hubs run through the Post Office, where several major banks provide services from a single site.
He said the effort was aimed at personal customers and newer businesses, which “love a bit of human touch”.
As for New Look, which sells clothing and accessories for women, men and teens, it has almost halved its high street presence in the last eight years, reducing the 600 UK outlets it held in 2018 to 338 currently, including 14 lost last year.
In 2024, the brand – founded by Tom Singh in Taunton, Somerset, in 1969 – said that around a quarter of its then estate of 364 UK stores would be at risk when their leases expire, which is what has happened in Stortford.
Jackson Square manager Michael Smith said: “Barclays’ decision to open at Jackson Square is a strong vote of confidence in both the centre and Bishop’s Stortford. This is about delivering what people genuinely need: accessible, face-to-face banking from a name they trust.”
He added: “The high street is changing, and Jackson Square is changing with it. We’re not just a shopping destination; we’re a community hub that provides essential services alongside quality retail.
“Securing Barclays demonstrates our ability to adapt, respond and continue attracting leading brands that enhance the everyday lives of our visitors.”
The arrival of Barclays builds on recent momentum at Jackson Square, including the openings of TK Maxx and Rituals, the refurbishment of Vodafone and Superdrug’s newly transformed store.
A spokesman said: “Together, these developments reinforce the centre’s commitment to remaining Bishop’s Stortford’s leading destination for retail, services and community connection.”
Excluding New Look, Jackson Square is home to: ALMAMIA Collection, Art House, Bishop’s Stortford Library, Café Mocha, Clarks, Eurochange, F Hinds, FatFace, Grape Tree, H&M, Hays Travel, Holland & Barrett, Hotel Chocolat, Mamdani Opticians, Mountain Warehouse, Nando’s, Next, O2, Pandora, Pret A Manger, Sainsbury’s, Smiggle, Starbucks, Superdrug, The Entertainer, The Fragrance Shop, The 3 Store, Unique Hairdressing, Urban Spa, Vinegar Hill and Vision Express.