Fenwick ends talks on taking over former HoF store in Guildford - report

By

Nigel TAYLOR

Published
Nov 22, 2023

Fenwick has abandoned plans to open a store in Guildford. The UK independent department store group has ended talks to take over the former House of Fraser store in the Surrey town. 

It had wanted to take on the remaining 16-year lease on the 180,000 sq ft space owned by landlord Canada Life, according to Retail Week. No reason was given for the failure to reach an agreement.

Fenwick has been looking to expand its regional retail footprint after agreeing to sell its London flagship store on New Bond Street for £430 million. Part of the money has also been earmarked for investment in the rest of its store estate including its flagship in Newcastle and in its Kingston-upon-Thames store.

The retailer revealed the London sale had helped it to return to profit earlier this year, reporting a pre-tax profit of £57.1m in the 52 weeks to January 28 compared to a loss of £5.2m the year before.

Earlier this month, chief executive John Edgar told the BBC the retailer’s online and in-store operations had been “performing well” in the face of a changeable year.

“The nine stores we have around the UK are performing well but obviously we’d like them to perform better. The year generally has been up and down, driven by many factors.”