Lifestyle

The Historic Fenwick Department Store On Bond Street Will Shut After 133 Years

First we lost the flagship Topshop on Oxford Street, and now we’re losing Fenwick; the iconic department store which has run its trade on Bond Street since 1891.

Fenwick cited a ‘challenging’ few years for the five-storey central London building when announcing the sale, but have confirmed that it will not be shutting down until 2024. That’s a few more years of Christmas shopping left in the tank for Londoners, then.

Image: Alan Kean, Shutterstock

The Bond Street building is being sold in a bid to help the brand, which began life on Tyneside in 1882, to grow and prosper. Despite boasting a tasty central London location, it is only the fourth largest in the brand’s roster, taking only half as much in sales as the Northumberland Street site in Newcastle.

Figures of the sale have not been disclosed by Fenwick, but it is reportedly been purchased by Lazari Investments for £430 million. Speaking on the sale, Lazari have said it plans to convert the five-storey building into a mixed-use space.

Simon Calver, chairman of Fenwick, said: “Decisions like this are always difficult but it is absolutely the right thing for the business.

“Clearly, trading has been tough across all of retail for the past few years. There’s been Covid and now there’s a cost-of-living crisis. This was about what we need to do to ensure the business is on a really strong financial footing and can survive for another 140 years.”

Fenwick on Bond Street will continue to serve customers until early-2024, at which point will mark 133 years of service to the busy shopping district. Their other eight locations, including sites in Brent Cross and Kingston-Upon-Thames, will remain open for business.