A local family-run business, which has been in operation for more than 50 years, has announced its closure, pointing out the high cost of doing business as one of the reasons. There are major concerns for the health of the UK high street as many chains and independent shops announce closures right across the country. The most notable include big chains like Poundland, River Island and New Look, but independent businesses have also been affected by the current trading climate. One of them is a family-run jewellery shop which has been a staple in its town for 50 years.
Krafft Jewellers in Chelmsford, Essex, has just announced its closure, saying the increased costs over the past few years has been a major factor contributing to the tough decision. “To all of our loyal and valued customers, I regret to inform you that after over 50 years of trading, Krafft Jewellers will be closing on 31st March 2026,” a statement from the business’s Facebook page reads. “This decision has not been easy but the trading climate has become so much harder over the past few years. Unfortunately, the advance in online shopping and increasing costs has impacted so many high street businesses, ours included.”
The independent business has said it will continue to take on jewellery repairs throughout February. However, the team will be limiting the work they take on as they approach the closing date.
After an outpour of support, the business posted a follow-up statement, once again thanking the local community. “Thank you all for your very kind and thoughtful comments regarding our closure,” it reads.
“It has been quite overwhelming. It’s nice to know we have been helpful over the years. Thank you once again for your support. We have a closing down sale on with all gold and diamond jewellery reduced in price.”
A number of high street businesses have shut for similar reasons, with some blaming Labour policies that make trading tougher in recent months and years. A beloved UK independent gun shop, which is one of the last remaining in the country, announced its impending closure and blamed Rachel Reeves’s tax raids.
The owner revealed that the shop’s business rates have risen by nearly 150%, jumping from £1,700 a month to £4,200 last year. He explained that Labour’s decision to get rid of retail relief for businesses meant that this figure would jump to more than £6,000 later this year.
Meanwhile, The Golden Fleece pub in Nottingham recently announced its closure, and said that the Labour government were taking a hostile approach to the pub industry in its statement.
“Everything’s going up,” manager Marc said of the pub’s bills. “Gas and electricity have gone up. Business rates were a lot lower in the first couple of years, but then shot up.
“Then minimum wage kept going up as well, which we agree with, but, as a business, we need to keep our costs low.”