Fenwick family quietly seeking buyers for flagship Bond Street store
The Fenwick family have reportedly been quietly seeking buyers for their flagship Bond Street department store.
The department store had been listed at a price of around £500 million, with bids having come in below the asking value.
Fenwick, which was founded in 1882, operates stores in Newcastle, London’s Bond Street, Bracknell, Brent Cross, Canterbury, Colchester, Kingston upon Thames (Bentalls), Tunbridge Wells and York.
In April 2020, Fenwick announced the departure of its chairman Richard Pennycook and chief executive Robbie Feather as the family behind the historic department store chain moves “closer to the running of the business”.
Feather was then replaced by John Edgar, a former Selfridges and Harrods CFO.
In November, the newly appointed CEO told The Telegraph that "online is fundamental to the department store's future", as nationwide restriction forced the closure of all non-essential retail.
The department store recently appointed ex-Lovefilm and Mothercare CEO Simon Calver as chair, replacing interim chair Steve Barber. Calver's expertise in digital businesses is said to have been one of the driving forces for his recruitment to the luxury chain.
The company confirmed to The Sunday Times that it has no current plans to sell the store.