A MAJOR high street fashion brand is not expected to close one of its Oxford stores, despite alarm bells ringing about its financial situation.

It was feared that about 100 people were set to lose their jobs from the Next store at Cowley Retail Park.

However, a spokesperson for Next told the Oxford Mail that ‘negotiations are in process and it is expected that the store will not close’.

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Despite this, one source, who wished to remain anonymous, said: “After 18 years of being open, Next has chosen now, during this crisis, to close the store and make about 100 people redundant.

“Apparently it had agreed a new lease last year, but because of this pandemic, it has gone back to the landlord and asked for an even bigger reduction.

“As this has not been agreed, Next has closed the store.

“Next has used this crisis as a lever to ask for rent reductions, with the threat of closing stores if not agreed.

“The Newbury store has also suffered the same fate.

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“This is purely being done in order to make as much money for the company as possible, ignoring the hard work done by employees, who now face the prospect of looking for new jobs.”

Oxford city councillor David Henwood represents the Cowley ward and he said he would be chasing the matter for his constituents.

He said: “I’d heard rumours from people in the area that Next was in financial difficulty but it will be a loss, it really will.

“If the store was to close, I’ll be contacting Next headquarters to make sure they’re making every effort to find work for everyone, whether they were full-time or part-time.

“It would be devastating for the community and those working hard to support businesses and shops in Cowley, it’s a big concern.

Oxford Mail:

“Many, many years ago, Asda tried to get a food store in the area but because of Sainsbury’s being there at the time, the rationale was that they would be in direct competition.

“In recent years, that policy has been eroded and now similar shops are in direct competition with each other.

“I had a meeting with NewRiver recently regarding the redevelopment at Templars Square and I’m currently waiting for further news.

“I know Templars Square is working hard to make sure it will be Covid-19 compliant and that consumers feel confident they can safely shop there.

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“I do think it will be a long time before we get to the levels before Covid-19, my own surgery has been postponed for a year.

“I hope the Government doesn’t relax the two metre rule but then that will be difficult for coffee shops, pubs and restaurants, so it’s about getting the right balance.

“Now we’re nearing that period when we can start going back to places again, we don’t want to generate another peak.”