A popular Ramsgate café and shop which has been trading since 2015 will close tomorrow (February 18) due to ‘escalating costs.’
Archive Homestore & Kitchen at the arches in Military Road is headed by Naomi Grady who employs around 10-14 local staff.
But despite the popularity of Archive rising energy and goods prices have forced the decision to close.
On the Archive facebook page Naomi said: “It is with the heaviest of hearts that I have to announce the closure of Archive Homestore & Kitchen. Our final day of trading will be Sunday 18th February.
“Although this decision may seem very sudden, it is something I have been struggling with for a while. Covid, and the aftermath, coupled with the escalating costs of goods and energy, has had a significant and detrimental impact on the business, with no option now but to close our doors.
“I want to take this opportunity to thank all of my team past and present, who have worked so passionately to make Archive what it is.
“Thank you to every one of you who supported the business over the last 8.5 years, our amazing suppliers and the Ramsgate community.
“Thank you to friends and family who have supported and held me through this difficult time.
“I know many of you have special memories associated with Archive – it was a pleasure to have been part of so many of your lives.”
Opening hours are 9am to 5pm for anyone hoping to pop in for the last day tomorrow.
The Centre for Retail Research data on retail job losses and store closures during 2023 shows nationally 2,320 stores closed and 33,241 retail jobs were lost last year.
In hospitality figures from CGA by NIQ and AlixPartners show more than 6,000 venues closed in 2023, bringing the total number of closures since the pandemic to nearly 23,000.
Business consultants Forbes Burton has pointed to two reports, published by PwC and Zoho, which warn of a difficult 2024 for business owners.
Zoho’s Digital Health Study showed two in five UK business owners cited inflation as their main concern going into 2024. Despite its recent slowing, inflation still sits at 4.6%, more than double the government’s stated 2% target. An even higher number (45%) of those surveyed were worried about the economic outlook for the UK overall.
PwC’s economic outlook expects to see almost 30,000 businesses fold in 2024, with the vast majority comprised of small businesses. They list the hospitality among the businesses most at risk with rising operating costs but reduced footfall.
PwC’s report does predict inflation eventually falling back to a figure closer to the 2% target if global energy prices are allowed to drop and foresees an improvement in living standards spearheaded by an increase in the National Living Wage and a housing benefit increase.
