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Bennetts call in administrators

Retailers hopeful ‘world’s oldest department store’ can be sold and most jobs saved

  

BENNETTS – dubbed the oldest department store in the world – have called in the administrators after 285 years in Derby’s Cathedral Quarter.

Retail Gazette reported today, Tuesday, February 12, that the retailers are hopeful new owners will be found for their two outlets will be saved.
Bennetts, who first opened their doors in 1734 and have a second site in Ashbourne, called in administrators from Bridgewood Financial Solutions after being hit by weakening consumer confidence, online competition and growing costs.
The administrators said the historic department store’s loyal customer base had not been enough to keep the business going during a “very challenging” period on the UK High Street.
Joint administrators Paul Mallatratt and Louise Freestone said both Bennetts stores will continue to trade as a going concern while they explore a sale of the 285-year old business, with a small number of redundancies but the majority of staff are expected to keep their jobs.
“Bennetts is an iconic retail brand which, over many years of trading, has earned a reputation for offering good quality products and great customer service,” Paul said, “given their pedigree we are hopeful that a buyer can be found so that Bennetts can continue to serve the local community for years to come.”


Image from www.retailgazette.co.uk


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