Finance

Exact date iconic department store will close flagship location forever as shoppers mourn loss of beloved ‘favourite’


AN iconic department store is set to close its flagship London store forever within weeks.

It was announced last year that Fenwick would be closing its central London store in Bond Street for good.

Fenwick in Bond Street in February

1

Fenwick in Bond Street in FebruaryCredit: Alamy

The Sun can now confirm that the store will shut permanently on Saturday, February 3.

Shoppers are already mourning the loss of the beloved store and have taken to Facebook to share their sadness.

One said: “There is no store like this one. The owners are lovely, the atmosphere in the store is positive and the long history makes this place truly unique.”

Another fan of the store said: “I can’t believe it! What is going on in London? All the best places are disappearing!.

“I have been coming here since I was a child with my Mum and am now 64 and will miss it terribly! Very very sad,” said a third shopper.

Fenwick’s website has started an “archive sale” exclusively for its Bond Street location, offering up to 70% off.

But shoppers can now get up to 70% off in-store across thousands of items.

The store has already shrunk from five floors to three, with the lower ground and third floors closed to shoppers, reports suggest.

Fenwick started trading in 1882, opening its store on Bond Street in 1891.

But reports emerged in December 2022 indicating it was making less than half the amount of its counterparts in Brent Cross, Kingston and Newcastle.

Chairman Simon Calver then announced the decision to close the store.

Lazari Investments bought the Mayfair site for £430million, with the new owners hoping to convert the building into a “mixed-use development”.

Fenwick CEO John Edgar recently admitted that the run-up to Christmas had been “challenging” and that the number of people buying from stores had only picked up in the last couple of weeks.

He told BBC Radio 4’s Today programme last month: “December has been a slower start to the month than we’d expected but people have been picking up, especially in the last week or two – quite significantly – leading up to a late Christmas.

“Certainly, people are being a bit more discerning about what they’re buying.

“But we’re still seeing great performance on things like fragrance, handbags, food and beverage… and individual items, like Jellycat, have been flying off the shelves.”

Mr Edgar added: “I think Black Friday has morphed into a Black November for many retailers, which personally I don’t think is a good thing.

“We’ve never gone down that route, we don’t really do a Black Friday event ourselves as a retailer.

“I think some people have taken similar views over time and have moved away from that wider discounting and some people feel that’s right for them.”

He continued: “We do try and make as many full-price sales as possible and keep that full-price message.

“It would be hard to say it hasn’t been challenging, but certainly, the last couple of weeks, as I’ve mentioned, have been encouraging.”

In other newsBoots and Next are shutting three branches on tomorrow (January 13), leaving locals devastated.

Next is set to close a store in Derry, Northern Ireland, next month, after it shut its branch in Galashiels, Scotland, last August.

In September 2023, the retailer confirmed plans to close 11 stores across the whole year in a blow to shoppers.

In June last year, Boots announced it would massively consolidate its portfolio of 2,200 stores to 1,900 branches.

Figures this month from the Centre for Retail Research revealed over 10,000 shops and almost 120,000 retail jobs were lost last year, in a major blow to the high street.

But it’s not all bad news as several retailers have been expanding, like Poundland.

Supermarket chain Iceland has been opening stores, with some under the Iceland Local brand.

Primark and B&M have all been growing their portfolios too, with B&M acquiring 51 former Wilko sites.

Meanwhile, Paperchase has relaunched 250 concession stores in Tesco branches, and Wilko has returned to the high street after both retailers fell into administration.





READ SOURCE

This website uses cookies. By continuing to use this site, you accept our use of cookies.