An upmarket grocery store in Newcastle is having to close putting 123 jobs at risk after bosses said trading had been 'challenging' and they could not find a way to make the shop profitable.

The Waitrose store has been a familiar site at the bottom of the escalator at Eldon Square for more than 14 years, but as the cost of living bites, the site has run out of time as shoppers look for cheaper alternatives.

James Allen, Head of Retail for Waitrose, said: ​“We realise the proposed closure is very sad news for our Eldon Square customers and Partners working there, who have worked so hard. 

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"When we first opened here 14 years ago we had every intention that we would be here for many years to come, but unfortunately we have found trade challenging for some time. The future and wellbeing of our Partners is our priority and we will do everything we can to support them over the coming months.” 

The company said the closure does not affect the John Lewis also in Eldon Square.

If the proposed closure goes ahead, 'every effort will be made to find new roles for those who wish to remain within the Partnership'. Opportunities will include transferring to local Waitrose shops or working elsewhere under either the John Lewis or Waitrose brands.

The John Lewis Partnership's Retraining Fund will contribute up to £3,000 towards a recognised qualification or course for up to two years for any Partner with two years’ service or more who is made redundant. They would also be given access to a three month support programme with an outplacement specialist to help with CV writing and interview skills.  

In addition to statutory redundancy payments, Partners who have worked with the business for more than a year would be entitled to Partnership redundancy pay, which equates to two weeks’ pay for every year of service, regardless of age. Those with less than one year’s service who leave on grounds of redundancy would receive an ex-gratia tax-free payment of one week’s pay.  

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