Rising costs from Brexit and cost-of-living force Stratford's Bonds Lifestyle store to close
Independent retail in Stratford has been dealt a huge blow with the sudden closure of Bonds.
Occupying a glass-fronted outlet on the Dodwell estate in Evesham Road, it sold a broad range of interiors, gifts, clothes and plants and housed a popular restaurant/café.
Originally it was a much smaller antiques emporium housing individual concessions, but when couple Zoe and Richard Biggs took over the business nine years ago they gradually expanded and changed it into a ‘destination’ outlet and renamed it Bonds Lifestyle and sold modern products.
In recent years the couple battled through Brexit, the pandemic and the cost-of-living crisis to keep Bonds afloat, but on Friday they announced its closure, with the business going into liquidation and 20 employees losing their jobs.
Richard said he and his wife were “devastated” by the closure and his first thoughts were for their loyal employees, but he declined to say more to the Herald while the legal ramifications of dissolving the business were ongoing. However a notice on Bonds’ social media said: “It is with the utmost sadness to announce we have closed our beloved store in Stratford. Nearly nine years of being here and it hurts so much to see the awful effects of the massive increase in overheads and the extreme trading conditions caused by the cost of living crisis. We kept fighting but sadly we can no longer continue.
“Thank you to all of our wonderful staff, customers, concessions and workshops. We are devastated. Much love the Bonds team.”
One person who knows the toll closing the business will have on the couple is Jim Clark, business mentor with CWLEP Growth Hub, who worked closely with Bonds through the last challenging few years.
He said: “Richard and Zoe are incredibly honourable and they have tried to look after everybody all the way through the last three or four years. They did everything they could to keep going – it’s put a huge strain on them, both healthwise and emotionally. I don’t think people fully appreciate how tough it was for people like them.”
Reflecting on how tough trading has been over the last few years, Mr Clark said: “Brexit had a massive impact on a business like Bonds because shipping costs went through the roof, and they imported products from all over the world.
“Then Covid came along, and really should have killed them after having to shut for so long, but they were able to survive thanks to government schemes.”
During lockdown the couple did much to introduce new business strategies, including a better online offering. Their innovation saw them win an award at the Herald’s Covid Response Awards.
“They became an icon of Stratford business as they went online and restrategised the business during the lockdown,” said Mr Clark. “Sadly the war in Ukraine has been the final nail in the coffin. The impact on prices and energy costs and the re-evaluation of their rates hit them hard.”
He finished by saying: “In my book, Bonds tried everything. People need to understand that Richard and Zoe are not walking away with millions in the bank, quite the opposite.”
