Hammerson has completed the super-quick disposal of its Victoria Gate and Victoria Quarter shopping centres in Leeds. Only last week, the UK property giant said it was still in early stages of negotiations.
With stable weather patterns returning to the UK in the final full week of February, normality also returned to retail footfall. Visits across all UK retail rose 11.1% week-on-week in the seven days (20-26 February).
Investment is continuing to flood into London’s West End to support a major regeneration of the UK capital’s premier shopping district following the pandemic. A new scheme will see £1 billion pumped into the region.
Stockmann — owner of its eponymous department stores and the Lindex brand — said 2021 was a year of “a strong turnaround”, with both divisions buoyant in Q4 and Lindex seeing its best-ever full-year figures.
Studio Retail only appointed administrators this week but it’s already been sold. And the new owner is Frasers Group. The Mike Ashley-led retail giant already owned an almost-30% stake pre-administration
Any hopes that Studio Retail might turn around its fortunes have been dashed as it has formally called in administrators. The online retailer has appointed Teneo to handle its collapse, with around 1,400 jobs at risk.