The Works has said its Together Rewards programme will close by the end of March in order that the company can maintain margin and profitability.

The discount retailer of art and craft supplies, books and stationery was offering its customers points as they spent money in the store. Those who have points before the scheme closes on 30th March will still be able to redeem vouchers until the 29th June.

The Works chief executive Gavin Peck was quoted saying: “With high inflation and a cost-of-living crisis affecting many of our customers, we’ve done our best to avoid putting up prices – and we’d like to keep it that way.

“To make sure we’re keeping our prices competitive and offering the best value and service, we have had to look at other ways to make savings. After careful consideration, we have decided to end our ‘Together Rewards’ loyalty scheme.

“This was not an easy decision and we understand this will be disappointing news to our customers that use the scheme, but we have done so in order to maintain fantastic value across our ranges.”

The change comes after The Works had reported economic challenges in January. The company experienced a loss of £7.5m from the 26 weeks ending on the 29th October. The choice to cut the scheme is in an attempt to reduce costs and “rebuild margin and profitability”.