SHOE retailer Office is looking to close as many as half of its stores in the UK. Sky News reports that the South African-owned company is planning to axe around 50 of its 100 stores. Office, which…
SHOE retailer Office is looking to close as many as half of its stores in the UK.Office owners are believed to be considering closing down 50 storesOffice, which is owned by Truworths International since 2015, is believed to have been exploring restructuring plans over the past few weeks.- a way of paying debts to creditors by closing stores and cutting rents commonly used by struggling retailers.
Those that have been earmarked for closure are not likely to be shut immediately. It's not clear how many jobs could be at risk.A spokesperson for Office told Sky News: "We have no immediate plans to close down stores. We remain in discussions with our lenders and talks are progressing well."Earlier this year, the retailer reportedly said thatwas to blame for the drop in footfall but insisted that it was still in a "strong position" to expand.
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