Southwest menswear indie Cody is to close three of its stores, reducing its retail portfolio by more than half.
The retailer has already shut its Taunton and Plymouth branches and it is understood it will also close the doors of its Torquay store at the end of August.
Cody, which stocks menswear brands including Belstaff, Luke, Lyle & Scott, Stone Island and Weekend Offender, will be left with just two branches – one in Exeter and another in Truro. However, a source told Drapers that the two remaining stores were trading well.
No one from Cody’s management could be reached for comment.
One brand manager of a label stocked at Cody said the store closures were a shame and that the economic situation for indies on the high street was a “nightmare”.
“Every week we’re getting a letter from someone saying they don’t want autumn stock because they’re closing,” he said. “Spring is always make or break time and people have got to the end of this season and thought, ‘How much more money can we pump into it?’.”