Dorothy Perkins store in Yate to close
YATE’S Dorothy Perkins store is set to shut in February.
The women’s fashion store in Yate Shopping Centre is one of 62 nationwide which are reported to have recently been earmarked for closure by retail chain Arcadia.
The closure comes despite rent concessions from the centre being in place.
Yate Shopping Centre manager Andrew Lowry said: “I’m very sorry to see them close their store, however unfortunately most retailers are reviewing their portfolios and where turnover is reducing decisions are being made to close stores.
“I’m confident that we will attract a new retailer shortly.”
A report in industry website Fashion United says that retail tycoon Sir Philip Green has called in advisers Deloitte to review his Arcadia group, which owns Dorothy Perkins, after a ‘prolonged dip’ in sales. It’s thought that he may consider the option of closing more stores to help balance the books.
Arcadia did not respond to a request for comment from the Voice.
Andrew said the current overall retail market was difficult and, with companies now able to review store leases every five years, they have the option to pull out if shops aren’t performing.
He added: “It is no secret that retailers at all levels are reviewing their options for the next twelve months in the light of the threat of Brexit and the continued impact of online shopping.”
But Yate Shopping Centre seems to be holding up well. Throughout last year footfall increased, going against the national trend.
Andrew describes it as ‘a period of sustained success’. The vacancy rate for units is just under 5% compared to a national rate of over 10%. Christmas footfall was up 17.5 per cent on 2017.
And this month Home Bargains will be opening on South Walk, while a new retailer is due to move in to the former Prezzo unit at Yate Riverside.
Andrew said: “It proves that the wide variety of shops that Yate offers the local community are competing effectively with other major centres further afield. The centre offers a good range of national and independent traders with more openings scheduled.
“I am pleased with the way that Yate Shopping Centre is performing, and Home Bargains is another major boost for us.”