Property

John Lewis has been given the green light to convert almost half of its London flagship store on Oxford Street into office space, as it scurries to return the business to profitability.

Flannels has opened a new 12,000sq ft store in Birmingham, and has revealed plans for a two new stores this year, adding to its 40-plus-store estate.

Intu Metrocentre has been acquired by London-based real estate developer Sovereign Centros, as the assets of former landlord Intu continue to be offloaded.

Edinburgh Woollen Mill Group has reportedly set aside several stores in its UK portfolio for permanent closure, after recently being granted a 10-day extension of creditor protection.

// Clarks kicks of negotiations with landlords to switch to turnover rent model // Clarks is hoping to gain landlords' approval to help push through...

Retailers taking new leases are reportedly calling for “pandemic clauses” that means rent payments will be reduced if the store is forced to close due to a local lockdown.

Retailers which have seen their online revenues skyrocket during the pandemic could see their rents shoot up under a progressive new leasing model.

Gap is mulling the closure of its entire European store estate next year, placing hundreds of jobs at risk.

Aldi opened the doors to its its 900th store in the UK as pushes on with its investment and expansion scheme.

TM Lewin parent company Torque Brands is reportedly among the bidders for Philip Day's Jaeger fashion brand.