Fenwick seemingly preparing for imminent closure of Bond Street store

Heritage retailer Fenwick has launched a notable 70 percent sale at its Bond Street store, suggesting the closure of the 130 year old location could be imminent.

The company had confirmed plans to shutter the store towards the end of December 2022, when it announced that it had sold the building to Lazari Investments in a 430 million pound deal.

At the time, Fenwick said the agreement would fund a “significant investment” into its online business and other stores, as it required fresh capital “in order to return the business to profitable growth”.

Lazari had further stated that it would be transforming the site into a “mixed use development”.

While the official closure date had not been revealed at the time, with Fenwick’s confirmation simply stating early 2024, The Sun has now reported that the store’s final day is to be February 3.

The news marked another blow for the typically bustling London district, which has been battling a series of store closures over the past few years, leaving many of its retail spaces empty.

Last year, Mulberry was among the many to close its doors on Bond Street, claiming the controversial “tourist-tax” – enforced following Brexit – was one of the prime causes for the move.

More recently, Fenwick’s CEO John Edgar had also spoken of the turbulent environment retailers are finding themselves in.

Speaking to BBC Radio 4’s Today programme he said: "December has been a slower start to the month than we'd expected but people have been picking up, especially in the last week or two - quite significantly - leading up to a late Christmas.

"Certainly people are being a bit more discerning about what they're buying. But we're still seeing great performance on things like fragrance, handbags, food and beverage... and individual items, like Jellycat for example, have been flying off the shelves."