River Island is shutting a popular store this weekend as 33 more branches look set to go. River Island, which has a store in Birmingham , is shutting its branch in Banbury, Oxfordshire, on June 28. It means shoppers will have to travel to their next nearest store in Rugby and Oxford. Ir comes as River Island plans to close 33 shops in the UK in a move which puts hundreds of jobs at risk. The clothing retailer said more people shopping online and higher costs to run stores were behind its proposals to creditors. It also wants its landlords to cut rents at a further 71 stores which are at risk. In Banbury, a poster on the location says: 鈥淭his store will be closing on Saturday 28th June. READ MORE State pensioners born in certain years set for 拢715 boost from DWP “Please visit us 24/7 online at RiverIsland.com or at your nearest store: Rugby and Oxford. To all our valued customers we will see you soon!鈥 Ben Lewis, chief executive of River Island, said that although River Island is “a much-loved” British high street retailer, more online shopping means it has “a large portfolio of stores that is no longer aligned to our customers’ needs”. He added that a “sharp rise in the cost of doing business over the last few years has only added to the financial burden”. He said a turnaround plan was in place, but restructuring was also necessary. “We regret any job losses as a result of store closures, and we will try to keep these to a minimum,” he added. Susannah Streeter, head of money and markets for Hargreaves Lansdown, said it was “not really surprising” that River Island had proposed closing stores, given the pressures it is under. She said recent changes to employer National Insurance contributions meant costs had risen for retailers like River Island with a large number of physical stores.