CHARLES Ager shoe shop has closed down due to difficult trading conditions and high business rates.
The shop replaced Peter Briggs shoe shop late last year in the prominent building where Sheep Street and High Street meet. Charles Ager Ltd, one of Coventry’s oldest companies, was hoping to branch out their 150-year old business.
Chris Hart, of Charles Ager, said the closure was down to difficult trading conditions and high business rates, tax that businesses pay on top of rent.
Although they are collected by the borough council, they are set by the government and that is where the money is sent once it has been collected.
Mt Hart added: “Unfortunately there was a lack of trade so we had to pull out while we could. The rates were almost as high as the rent and that had a crippling effect on business.
“You don’t mind paying for those rates if you get the trade, but that wasn’t the case in Rugby.
“The rates there are a lot higher than most places, and I wouldn’t be surprised if a few other people in Rugby were thinking the same thing.
Unfortunately I doubt ours will be the last business to leave Rugby this year.”