Organic grocer Fresh and Wild has announced that one of its flagship UK stores will close this week due to a failure to meet profit targets.

The news follows the announcement earlier in the year that parent company Whole Foods Market suffered a year-on-year loss of £10m (€12.4m), in a global economic environment that has seen consumers tighten spending and turn to discount retailers in growing numbers.

'This is a bad sign for Whole Foods after the loss it reported - it does make you question whether they will have a presence here in a few years,' Natalie Berg of Planet Retail told The Telegraph. 'At the moment, the economic climate just doesn't bode well for their kind of business.'

Fresh and Wild also have UK stores in Stoke Newington, Camden, Soho and Clapham.

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