Clarks shoe shop will stay in Preston city centre after company rethink
Although the under-threat locations were never disclosed in 2020, news that the chain's premises at 103a-104 Fishergate have been listed for sale has raised concerns.Vacant possession means the right of a purchaser to exclusive use of a property on completion of the sale, any previous occupant having moved out.
When asked about the listing, agent Morgan Martin said the situation has recently changed and the premises were no longer being offered with vacant possession. Any new owner would have Clarks as a tenant. A staff member said:"Clarks were thinking about leaving the premises, but changed their minds and in the last few weeks have renewed their lease."
The premises, built in 1956, offers accommodation over ground and first floor measuring 9,016 square foot.Hong Kong-based private equity firm LionRock Capital acquired a 100 million pound majority stake in Clarks late in 2020. It came as the 197-year-old brand received the green light from its creditors to launch a company voluntary arrangement which will see its stores switch to turnover-based rents.
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