Are Fenwicks in trouble?

Fenwick reported a pre-tax loss of £38.1 million on sales of £299 million in the year to January 2024. Sales were down by 5.2 per cent. It has now been loss making for the past six years.

Is Fenwicks closing down?

More than 130 years after it opened, the London flagship Fenwick department store will close its doors for the last time on Saturday.

Is Fenwicks in trouble?

The chain is currently facing mounting losses and cost pressures. With eight department stores throughout the UK, from Canterbury and Newcastle to Tunbridge Wells and York, Fenwick has reported a pre-tax loss of £38.1m for the year to January 2024, following a 5.2% decline in sales.

Is Fenwick owned by John Lewis?

It was founded in 1882 by John James Fenwick in Newcastle upon Tyne, and currently has nine branches. It was a member of the International Association of Department Stores from 1988 to 2010. As of 2022, the chain is still owned by members of the Fenwick family.

Is Fenwick profitable?

Fenwick said despite the significant drop in profit year on year, last year's profit included £97.5m considered an “exceptional item” from the sale of its Bond Street store. Fenwick's operating loss also increased slightly from £39.1m to £39.8m in what the business called a “challenging retail environment”.

RetailCraft 34 - ”Phenotype” - Andy Jayes of Fenwicks

Who is the new CEO of Fenwick?

Nigel Blow has been appointed as the new chief executive of Fenwick.

How much are the Fenwick family worth?

The Fenwick's have a family fortune of £491m, down £35m from last year and giving the family a national rank of 279th place. The Sunday Times Rich List compiles the 350 richest people and families in the UK.

Why is Bentalls now in Fenwick?

The company was formerly listed on the London Stock Exchange, but in 2001 was purchased by the private Fenwick group. The Kingston upon Thames store continued to trade under the Bentalls name until 2023, when it was renamed Fenwick.

Who bought Fenwicks?

Fenwick's Department Store traded at 63 New Bond Street since 1882. The Fenwick family announced in December 2022 that they had sold the site to Lazari Investments and closed the store in Q1 2024. Lazari Investments Ltd is one of three UK business groups owned directly or beneficially by the Lazari family.

How many Fenwicks are there in the UK?

We have 8 stores across the UK, differing in size and offering, specific to their local community. These stores are supported by our distribution centre, ensuring our fabulous product reaches our customers at the right time. Restaurants are another key focus for Fenwick and a strong growth area in our business.

Who is the Fenwick family?

The Fenwicks were an established family of bankers in Northumberland during the nineteenth century. Herbert's grandfather, George (1811-1882, shown right) was a senior partner in Lambton's Bank and also had interests in hunting and was a director of the North Eastern railway.

Is Fenwicks independent?

Description: Founded by John James Fenwick in 1882, Fenwick is an English independent chain of department stores. Since its launch, the first Fenwick store in Newcastle Upon Tyne has expanded and it now consists of several buildings and is known for its extravagant Christmas windows displays.

What is the meaning of Fenwick?

It combines the elements fenn, meaning "marsh," and wīc, meaning "outlying dairy farm." Together, they mean "village on the marsh" or "from Fenland." Fenwick is also a place name for villages in Scotland and England.

Is Fenwick in trouble?

They said Fenwick faces “significant and growing competition from online retailers” while consumer confidence and spending had been hit by a “volatile environment” caused by higher energy and commodity costs and rising interest rates.

Who started Fenwicks?

History. When John James Fenwick opened his store as Mantle Maker and Furrier in 1882, his uncompromising eye for quality made luxury goods, and the luxury shopping experience, accessible to the United Kingdom unlike ever before.

What brands does Fenwick's carry?

Who is the CEO of Fenwicks?

Fenwick has today announced Nigel Blow, currently CEO at London-based department store chain Morleys, as its new Chief Executive Officer - effective from October 2024. Current Fenwick CEO John Edgar is leaving the business after four and a half years at the helm.

What is the redevelopment of 63 New Bond Street?

Fenwick department store redevelopment at 63 New Bond Street building in Mayfair, London W1. Designed by Foster+Partners, the new sustainable, mixed-use building will offer world-class retail space at lower levels and Grade A office space at upper levels.

Is Fenwick's House of Fraser?

Department store chain Fenwick has walked away after talks to take on the former House of Fraser store in Guildford, Surrey fell through. Retail Week understands that Fenwick has been unable to agree on a deal with landlord Canada Life for the 186,000 sq ft site.

Who owns Bentall Centre?

The Bentall Centre is a 1.5 million square foot office complex and underground shopping mall, located in Downtown Vancouver's financial district. It is owned and managed by Hudson Pacific Properties.

Who is the chairman of Fenwick?

When the building's sale was announced in 2022, Fenwick's chairman Simon Calver said it had "been a difficult decision for the Fenwick family".

Who is the founder of Fenwick?

John James Fenwick

In 1882, his ambition came to fruition when Fenwick bought and renovated a doctor's house for £181 and 4 shillings at 5 Northumberland Street in Newcastle upon Tyne. This would become his first store and the start of his legacy: JJ Fenwick, Mantle Maker and Furrier.

Who are the richest noble families in the UK?

Duke of Westminster and the Grosvenor family: £9.88 billion. The UK's richest aristocrat, Hugh Grosvenor inherited the Dukedom of Westminster and an estate worth £9 billion following the sudden death of his father Gerald, sixth Duke of Westminster, back in 2016.

Is Irene Hays Times on the rich list?

According to the newspaper, Dame Irene and family, who made it onto the Rich List for the first time last year in joint 324^th place, are now the 250^th wealthiest in the UK. They increased their fortune by £191 million this year to £591m, according to the publication.

Who is the richest person in North East England?

This year's edition of The Sunday Times Rich List revealed Alastair and Michael Powell top the richest people in the North East. The cable guys have a wealth of £701 million, a decrease from £794 million in 2024.