Department store operator Fenwick will close its iconic central London location on Bond Street after more than 130 years as part of an effort to secure the group’s long-term future.
Fenwick said on Tuesday that it had made the “difficult decision” to sell the five-storey building following a “challenging” few years.
Fenwick, which did not disclose any financial terms of the sale, agreed to offload the site to Lazari Investments.
Although the deal was expected to close early in 2023, the Bond Street store will continue to trade as usual until the beginning of 2024.
“Decisions like this are always difficult but it is absolutely the right thing for the business,” said Fenwick’s Simon Calver.
Reporting by Iain Gilbert at Sharecast.com
