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Fenwick cuts over 400 jobs

Fenwick has cut 408 jobs at its department stores in England as it looks to modernise in the face of declining profit and sales.

DEPARTMENT STORES

Fenwick cuts over 400 jobs

Fenwick has cut 408 jobs at its department stores in England as it looks to modernise in the face of declining profit and sales.

According to the BBC, the company has made 119 redundancies at its flagship Newcastle store although a new centre of excellence at the shop covering the legal, finance, IT and HR functions will create 120 new jobs. Up until now, each Fenwick store has had its own back office teams.

The company has also announced plans to sell online for the first time in 2019.

In addition to Newcastle, Fenwick operates stores in Tunbridge Wells, Bracknell, Brent Cross, Kingston, Canterbury, Colchester, York and London’s Bond Street.

A spokesperson told the BBC that the company had faced challenging market conditions and increased competition from retailers operating online.

Fenwick closed two stores last year in Leicester and Windsor.

 

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