Trago store in Falmouth under threat as consultation begins over future
The business says it can no longer absorb losses at the site
A major retailer in Falmouth has confirmed it is consulting staff over the future of its town centre store, citing ongoing financial losses and rising costs.
Trago, which has had a presence on the town’s High Street for nearly 50 years, says the Falmouth branch is no longer financially viable.
In a statement, the company said efforts to cut costs and improve the in-store experience have not been enough to stop “six figure deficits” at the site.
Chairman Bruce Robertson said:
“Having been at the heart of the town’s former vibrant High Street economy for the best part of 50 years has been both a privilege and a pleasure, serving so many loyal customers to whom we are indebted, thank you all.
“Sadly, the passage of time has left the retail landscape virtually unrecognisable, and whilst the store has survived far longer than many, its options are limited, which is why we are now engaging with the local team to hopefully identify an amenable solution.
“Our passion is undiminished, as for ourselves Trago is as much a way of life as a business. Heart may have ruled head on occasion, we have continued beyond where others have chucked in the towel, but now we must address the present.”
The company blamed “eye-watering” energy costs, as well as increased national insurance and minimum wage requirements, for compounding the financial pressure on its business.
The consultation comes amid wider challenges on high streets across the UK, with a number of national and independent names disappearing from Falmouth in recent years – including M&S, Poundland, Wilko, and most recently Anns Cottage.
Trago said the business will now also look at other underperforming areas of its wider operation as it plans for the future.