7 December 2022
The Weekly
England

Fenwick has decided to shutter its historic London site on New Bond Street and sell the property to Lazari Investments. Fenwick opened its Bond Street store in 1891, with the current unit comprised of six composite buildings acquired between 1887 and 1961, and unified in the 1980s. The Fenwick family and management said they were making the move to ‘strengthen the financial foundations for the future and make significant investments in its stores and online for long-term success.’ Property portfolio is said to be valued for 430mn pounds. The store said that despite a 71% recovery in sales, and a significant reduction in losses for the financial year to January 2022, it was time to say goodbye to the Bond Street store. Fenwick confirmed that its eight England stores — in Newcastle, Kingston, Brent Cross, Colchester, Canterbury, Bracknell, Tunbridge Wells and York — would remain open, and the online business would continue to expand.

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