Office pinpoints shopping centre stores for closure
The footwear retailer has this 7 days closed its keep at The Oracle procuring centre in Reading, which is owned by Hammerson.
Drapers understands an additional keep dependent in Intu-owned Lakeside procuring centre in Thurrock closed very last weekend.
In April, expert services firm Alvarez & Marsal (A&M) was employed by Office’s South African operator, retail team Truworths International, to run an accelerated sale course of action for the business.
Final calendar year Office appointed A&M to evaluate the company’s economic position and think about options for the business, including a probable firm voluntary arrangement (CVA).
Rather, it concluded a refinancing in September, and mentioned it would shut unwanted shops when their leases expired.
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Workplace CEO Lorenzo Moretti resigned in November 2019, just before joining Dr Martens as its new president of EMEA.
Drapers has contacted Workplace and Intu Houses for comment.
