Fashion retailer NEXT will close its Isle of Man store this summer after failing to reach agreement with the building’s landlord on a new lease.
A NEXT spokesperson said the company had wanted to continue trading on the island but was unable to accept the terms offered.
“The store’s lease is coming to an end and although NEXT wanted to renew it and remain trading on the island, as it has for many years, the landlord put forward terms that weren’t commercially acceptable, so sadly the store will have to close in the summer,” the spokesperson said.
“Terms for a renewal of the lease could not be agreed with the landlord.”
NEXT has occupied the site for 25 years, and the closure will affect all 23 employees, including management.
The retailer has not yet confirmed a final closing date.
