Skip to main content

Sports Direct told to “honour lease” despite plans for new Sheffield store

// Sports Direct must keep existing store open despite plans to open a second in Sheffield, the building owner said
// The retailer confirmed it is moving into the former TJ Hughes department store on The Moor

Sports Direct has reportedly been told to keep its existing store open despite plans to open a second in Sheffield city centre.

The retailer confirmed it is moving into the former TJ Hughes department store on The Moor, but has not revealed whether it will remain in its current location – the former House of Fraser at 50 High Street.

The building is owned by Tellon Capital, and partner and co-founder James Burchell said he was unaware of Sports Direct’s intentions, The Star reported.

READ MORE: Sports Direct launches “unique” multi-destination store in Leicester

However, he said he expected bosses to honour the lease.

“Sports Direct has a lease that lasts until 2024 and we expect them to honour that lease. We have regular communications with occupiers including Sports Direct. But we are not privy to their activities,” Burchell said.

It remains unclear as to whether the new store is in addition to its existing one.

The company submitted plans for new signs above the old TJ Hughes store on The Moor last week.

In 2019, Sports Direct said it had no plans to relocate its current store on the high street.

TJ Hughes has stood empty since it announced it would be closing its store on The Moor back in February last year.

Sheffield commercial agent Paul Lancaster said he was sure Sports Direct would leave 50 High Street.

He said: “Sports Direct tried to come out three years ago but did a deal with the landlord. I’m as sure as I can be the High Street store will shut and I can’t see it being retail again.

“It’s sad seeing the decline of a once thriving street. It’s a shadow of what it was just 10 years ago.”

Click here to sign up to Retail Gazette‘s free daily email newsletter

The post Sports Direct told to “honour lease” despite plans for new Sheffield store appeared first on Retail Gazette.



from Retail Gazette https://ift.tt/3w7Hfh4
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Eagle Labs launches impirica CBD brand

ST. PETERSBURG, Fla. — Eagle Labs has launched impirica, a new brand of CBD intended to eliminate consumer fear, and increase confidence, in trying the exciting new cannabidiol category. Michael Law Although most Americans have now heard about CBD, many are very confused and concerned about product quality. This is inhibiting trial in the category and holding back conversion into sales. In fact, a 2017 study by Johns Hopkins University found that two out of three CBD products on the shelf did not contain the amount of CBD reflected on the label. Furthermore, in 2018 and 2019, the FDA sent notices to a substantial number of CBD manufacturers advising them of serious concerns about product quality or egregious medical claims. The impirica brand looks different than most CBD brands — the brand name itself connotes testing and trust, says Eagle Labs chief commercial officer Michael Law. “It doesn’t use the traditional category colors of browns and greens, and you won’t find a hemp...
70 comments
Read more

Sagar Daryani, CEO and Co-founder – Wow! Momo & Saga: From a Kiosk to a Kingdom

Sagar Daryani’s entrepreneurial odyssey from humble beginnings to pioneering success has redefined the landscape of food startups in India. Co-founding Wow! Momo, he has spearheaded the growth of the largest indigenous QSR chain in the country, crafting a remarkable saga of triumph The Genesis: A Visionary Venture Takes Root In 2008, armed with a mere Rs. 30,000 and boundless ambition, Sagar Daryani and Binod Homagai embarked on their entrepreneurial journey while still pursuing their graduation in B.Com Hons from St. Xavier’s College, Kolkata, even before their college results were out. They knew the value for money and boot-strapped to plough back profits and grow their venture. Sagar spearheaded brand expansion, brand creation, and marketing and retail operations. Grew across the city with a strong consumer focus. The early days were hard but keeping track of the money flow was even harder. Believing in the concept of ‘1 rupee saved is 5 rupees earned’, and the lessons they lear...
1 comment
Read more

Homegrown ice cream chain HOCCO to open 250 stores, eyes Rs 400 crore by FY26

Ankit Chona, Founder and Managing Director of HOCCO, delves into the company’s revenue model, growth strategies, and vision for the future… Bengaluru: HOCCO (House of Chonas Collaborative) , the Ahmedabad-based ice cream and quick-service restaurant (QSR) chain, boasts a rich legacy spanning over 70 years, with roots tracing back to pre-independence India. The Chona family has been deeply entrenched in the food industry since 1944, originally operating in undivided Pakistan. Following the Partition, Satish Chona , an engineer with British Overseas Airways Corporation, relocated from Karachi to India. After journeying through multiple cities, he ultimately settled in Ahmedabad, where he established his first QSR outlet in 1953. Three decades later, he expanded into the casual dining segment, launching a restaurant in Baroda while continuing the family’s ice cream manufacturing business. However, in 2017, the company sold its ice cream division to a South Korean firm, shifting its fo...
Post a Comment
Read more