Re: The closing shop chains thread...
Posted: Sun Feb 21, 2021 7:04 pm
John Lewis to close more stores
The John Lewis Partnership is preparing to close another raft of department stores as chairwoman Dame Sharon White takes more drastic measures to slash costs.
Up to eight John Lewis stores could be shut permanently, with the chain’s bigger, older shops thought to be most at risk. The final number of closures is yet to be determined as it is subject to negotiations with landlords. In some instances John Lewis may close a store but relocate to a smaller property nearby.
The plan marks another traumatic development for the partnership as it battles to shore up its stretched finances. John Lewis announced eight store closures last July, eliminating 1,300 roles, and is in the process of cutting a further 1,500 jobs at head office. The July closures included its Birmingham flagship in the Grand Central centre, opened in 2015 by former managing director Andy Street, now West Midlands mayor.
John Lewis currently has 42 stores. An announcement on the latest cull, which could shrink the estate to as few as 34 shops, is expected before, or alongside, the mutual’s annual results on March 11. John Lewis declined to comment.