Surrey-based independent department store chain Tudor Williams is closing its New Malden branch after 106 years of trading.
Tudor Williams blamed falling sales, rising costs and the “tough trading climate” for the decision to close the store at 53-59 High Street, New Malden.
The retailer’s two other stores, in Dorking and Farnham, are not affected, and will continue to trade as normal.
John Morris, group managing director, said in a statement: “It is with great sadness that we have to announce our intention to close our New Malden store after 106 years of trading.
“Despite the tremendous effort by our New Malden management and staff and the extensive refurbishment, the store has unfortunately not seen the necessary improvement in sales. With ongoing rising costs, and the tough retail climate, it is with the greatest of reluctance we have concluded that we are unable to continue trading at the store.
“There has been a great deal of speculation on social media over the last 24 hours. However, we delayed our official response in order to communicate our decision to all our management and staff before an official announcement.
“We would like to thank all those employees past and present, who made the business what it was. We would also like to extend our warm appreciation to our many customers who have supported us so loyally. To the present group of staff we extend our heart felt gratitude.”
The business will run a £1m closing down sale from 17 May to 29 June.