CHARITY SHOPS PROFITS CRISIS

Costs force hundreds to close

- NICK SOMMERLAD

SOME of Britain's biggest charities have seen their profits from stores slump by almost half in the last five years.

It comes as Scope plans to close half its outlets in the next 18 months after running up a £1.5million loss.

Bosses blame soaring rents, rising wages and higher energy bills along with an increase in online shopping.

We looked at the accounts of the five biggest operators - Cancer Research UK, the British Heart Foundation, Barnardo's, Sue Ryder and Oxfam who have nearly 3,000 charity shops between them. Hundreds have been forced to close since 2019, however. Since Covid, takings at the big five have gone up 18% to £626million, but profits have fallen by 40% to £44m.