The owner of one of Burnham-On-Sea’s longest-running shops has thanked customers for their support as he confirmed this week that it will be closing down at the end of this month.
Home Hardware in Burnham-On-Sea’s High Street is shutting on August 30th when its owner, Phil Hemming, retires.
Taking to Burnham-On-Sea.com this week, Phil said: “After two years of heart-breaking ups and downs in my attempt to sell the business, and losing three keen buyers it is now inevitable that 30th August 2019 will be my last day of trading.”
“The rent required to carry on the business of £18.500 per annum means that the profit margins are so tight that the slightest downturn will result in financial ruin. I could not pass my business on to Graham Jones with a clear conscience knowing this.”
“I estimate that the break-even point for the business is approximately £900 per day, which was easily achievable until the advent of Proper Job and latterly B &M. The overall effect of this was a 10% drop in turnover, making the whole enterprise unviable. Speaking with fellow High Street retailers, this seems to be the general opinion.”
“The council have done their best to help the High Street by granting small business relief which means I only pay about 10% of the original rates, but the proposed increase in rent of £3,000 per annum (which was quoted to include the vital requirements of a stock room and toilet facilities) from £15,500 to £18,500 in the present climate is financial suicide. We researched alternative premises but the rent on these was very similar.”
“I wish to thank my loyal hardworking staff, Wendy, Denise, Anthony and Tabitha, and last but certainly not least Darren (the ‘young lad’) for sticking with me through all the uncertainty of their futures and my resultant moods.”
“I wish them all the best in the future and hope they find alternative employment. Perhaps I had better thank my wife Jill who has been my perfect secretary on the whole through all of my tenure.”
“I shall miss the wonderful, kind customers who have kept me on my toes and supported me throughout my 24 years, and I thank you all so very much and feel guilty about letting you down, but old age is inevitable unfortunately.”