BHF, which had 470 clothing shops and 181 home stores in the year to March 2026, saw its retail costs rise by 5 per cent to £240m, outstripping its 1.5 per cent increase in turnover to £236m.
Following the financial year-end, the charity sector’s largest retailer announced plans to close 150 of its shops by March 2028, 14 of which have now shut.
READ MORE: UK charity shop chain’s flagship saved
Abingdon’s BHF shop in Bury Street precinct is expected to close before Christmas and the chain’s shop in London Road, Headington closed in December but staff at the St Ebbes shop, in Oxford where second-hand clothes, books, vinyl, jewellery and other items are sold, said they expected to stay open.
Explaining the decision in its recently filed accounts, BHF said the level of financial return its shops generated in 2025-26 was “not sustainable” and the closures reflected “rising operating costs and changing customer habits”.
In recent years, the charity has attracted a number of celebrity backers including Radio 2 presenter Vernon Kay, who hosted the BHF Heart Hero Awards.
Radio presenter Vernon Kay (Image: Ian West/PA Wire)
Mr Kay, who lives in Buckinghamshire, took over the mid-morning show from Ken Bruce in 2023.
With 6.8 million weekly listeners, the presenter is the nation’s most popular radio broadcaster.
READ MORE: UK charity shop chain announces closures amid £3.3m loss
In 2019, he hosted a glittering event at Shakespeare’s Globe theatre in London to celebrate people of all ages who have shown strength in the face of adversity or have made a significant impact in helping those living with heart and circulatory diseases.
Mr Kay was supported by an array of performers and judges, including the Duchess of York, Penny Lancaster, Luke Pritchard from The Kooks, The Mac Twins, Louisa Johnson and James Taylor.
Penny Lancaster and her father Graham (Image: Ian West/PA Wire)
Other celebrities who attended and showed their support for the Heart Hero Awards included: Gaby Roslin, Glenn Hoddle, Aimee Fuller, Joshua Kane, Samantha Murray, Meg Matthews, Richard Jones, Dr Zoe Williams and Anthony Ogogo.
BHF told Civil Society, which focuses on the charity sector: “The changes are designed to ensure our retail network remains strong and sustainable,” it said. “On the basis the proposals proceed, implementation will likely result in limited recovery.”
Overall, the charity’s £441m expenditure exceeded its £416m income, however it also recorded an additional £17.4m net gain on investments in 2025-26.
The British Heart Foundation shop in St Ebbes (Image: Andy Ffrench)
Despite the retail challenges, BHF raised record fundraising income of £62m (including event entry fees and merchandise sales) and a further £106m from legacies in 2025-26.
The charity awarded £103m in new research grants, increasing its portfolio by nearly £23m year-on-year to £485m.
It spent £45.2m on raising funds and £145m on total staff costs, including redundancy payments of £1.1m arising from restructuring activities.
BHF chief executive Charmaine Griffiths said: “Our annual report shows BHF at its best: protecting hearts today, backing world-class science and building the foundations for even bigger breakthroughs tomorrow.
“Thanks to our incredible supporters, we expanded our research portfolio to the highest level since the pandemic, reached millions of people with trusted health information and support and delivered a record year for fundraising despite significant external pressures.
“These pressures mean we must also now make difficult decisions, including proposed shop closures, to protect sustainable income for lifesaving research.”
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