THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Seven Paul Simon stores sold to Lewis's Home Retail

Administrators for the collapsed home furnishings retailer Paul Simon have negotiated the sale of seven stores to Lewis’s Home Retail.

GENERAL MERCHANDISE

Seven Paul Simon stores sold to Lewis's Home Retail

Administrators for the collapsed home furnishings retailer Paul Simon have negotiated the sale of seven stores to Lewis’s Home Retail.

The stores are situated in Colindale, Chelmsford, Edmonton, Harlow, Hayes, Lakeside and New Malden. The sale will save 73 jobs.

However, the administrators have also announced the closure of a further eight stores in Reading, Worthing, Gillingham, Ashford, Enfield, Beckton, Slough and Bristol with the loss of 59 jobs. Five other stores were closed in April.

Lee Manning, Deloitte partner, said: “We are pleased to have some good news during the administration of Paul Simon. However, this is not a sale of the brand and we will see further clearance sales at the closing stores. This market remains challenging, especially for out of town retailers, and the increasing importance of online sales caused an erosion of margins.”

The administrators will continue to trade the remaining 30 stores while seeking a buyer for all or parts of the business as a going concern. There were originally 50 leasehold retail stores.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
Fix The Dinosaur Roundtable 2018
Fix The Dinosaur Roundtable 2018
19 October 2018
The Euston Suite, The Hallam, 44 Hallam St, London W1W 6JJ
A Masterclass in IBMi Legacy Issues