A HIGH-END shop in the heart of a Hampshire city is set to close down with the loss of nine jobs.

Fashion retailer Cadogan and Co, which has been in business for more than 20 years and is located on The Square, Winchester, has gone into administration.

The shop will stay open to sell its remaining stock, but the business will eventually close, according to administrators Begbies Traynor.

The business is the latest in a line of well-known names to close branches - Next, River Island, Jaeger, and Maison Blanc have all ceased trading.

The changing face of the retail landscape also has new retailers moving into the city, including TK Maxx who will move to The Brooks.

Meanwhile Coretto, based where Shoe Zone once was on Winchester High Street, and Tesco will move in to the space vacated by River Island on the High Street.

City councillor Ian Tait said the news is a “devastating blow” to Winchester, and he praised the owner of Cadogan for his work.

He added: “The owner is such a good person and had done so much for Winchester, he is eccentric in a good way he adds to the colour of Winchester in a good way. It will be hugely, hugely missed. People come into Winchester for the likes of Cadogans and the Hambledon. I think it is a devastating blow for Winchester.”

Andrew Hook, manager at Begbies Traynor’s Salisbury office, said the business had faced a number of problems.

“Initially, the business did well, with turnover reaching £1,600,000 ten years ago, but like many businesses they were subsequently hit by the financial crash,” he added.

“The way people buy has changed dramatically too, with more and more people migrating online as a first port of call, and that’s hit businesses like Cadogan hard.

“On top of that, in 2013 a delicatessen and cafe next door also closed down, and footfall again reduced significantly.”

Andrew Hook also said the director of the business also found that customers would increasingly wait for items to be put on sale, and suppliers often set up websites which offered discounts.

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