THE town of Penrith is grappling with a series of business closures, with three banks set to shut their doors along with several local establishments that have already closed since the start of 2024.

Last week, it was announced that Devonshire Street’s The Works would be closing in mid-April and that ‘all team members’ would be redistributed to other shops in Carlisle and Kendal.

In January so far, the town has witnessed the closure of high-street shopfronts including the Chopping Block, Wild Ivy Floral Design (with a move to online) and Ruby Rae’s.  

The Agricultural Hotel also shut its doors last year alongside Elliott’s Plants on Angel Lane, adding to the list of bricks-and-mortar casualties.

In the coming months, national banks such as Barclays on Market Street will close in April, Lloyds Bank will close in March and the Halifax branch also in April, following branch performance figures. 

However, amidst the closures, there is positivity on the horizon.

Away from the high street comes plans for the Inspiring Eden Enterprise Hub. 

In November last year, the government announced plans to back a £7million proposal to boost businesses in rural Cumbria.

The planned 3,390 square metres of business space will be located by the Stoneybeck roundabout near Penrith on the A6, with direct connections to the M6.  
Planned to house offices, workshops, studios, and collaborative spaces, the development is designed to attract some 80 businesses and more than 500 jobs, which could generate an estimated £20 million of economic benefit in 10 years.

Westmorland and Furness Council Leader councillor Jonathan Brook welcomed the announcement and described the hub proposal as a key opportunity to drive economic growth in Penrith, Eden and the wider region.

At the time of the announcement, MP Dr Neil Hudson, said: “Locally, I’m delighted that after many months of persuading the Government of the scheme’s impact, Ministers have listened to me and approved more than £7million for our planned rural enterprise hub in the heart of Eden.

“This is a tremendous opportunity to take full advantage of local talent, unlocking the economic potential of rural Eden and allowing entrepreneurs and business leaders alike to thrive."