{"id":55901,"date":"2020-12-08T08:20:26","date_gmt":"2020-12-08T13:20:26","guid":{"rendered":"https:\/\/olduvai.ca\/?p=55901"},"modified":"2020-12-08T08:20:26","modified_gmt":"2020-12-08T13:20:26","slug":"three-big-retailer-casualties-in-one-week-uk-retail-landlords-reel-after-worst-week-of-nightmare-year","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=55901","title":{"rendered":"Three Big Retailer Casualties in One Week: UK Retail Landlords Reel after Worst Week of Nightmare Year"},"content":{"rendered":"<header>\n<h3 class=\"entry-title\"><a href=\"https:\/\/wolfstreet.com\/2020\/12\/07\/three-big-retailer-casualties-in-one-week-uk-retail-landlords-reel-after-worst-week-of-nightmare-year\/\">Three Big Retailer Casualties in One Week: UK Retail Landlords Reel after Worst Week of Nightmare Year<\/a><\/h3>\n<\/header>\n<div class=\"entry-content\">\n<p><strong>Some property owners are more exposed to the fallout than others.<\/strong><\/p>\n<p>The UK\u2019s retail property sector was hammered by three big corporate casualties last week, even as the country\u2019s shopping centers began reopening after another lockdown. Two of them occurred on the same day: December 1. First, the fashion retail group Arcadia \u2014 owner of brands such as Topshop, Burton and Miss Selfridge, with 422 stores in the UK \u2014\u00a0<a href=\"https:\/\/wolfstreet.com\/2020\/12\/01\/just-in-time-for-holiday-shopping-season-uk-fashion-giant-arcadia-crashes-into-bankruptcy\/\" target=\"_blank\" rel=\"noopener noreferrer\">crashed into bankruptcy<\/a>. Hours later, the 242-year old department store Debenhams, with 124 stores in the UK, and which had already\u00a0<a href=\"https:\/\/wolfstreet.com\/2019\/04\/09\/uk-based-multinational-department-store-debenhams-collapses-after-200-years-of-trading\/\" target=\"_blank\" rel=\"noopener noreferrer\">entered administration twice since April 2019,<\/a>\u00a0went into liquidation, after its last remaining prospective buyer, JD Sports, lost interest and walked away from rescue talks. This came just a day after women\u2019s fashion retailer Bonmarche Ltd. filed for administration, putting over 225 stores in jeopardy.<\/p>\n<p>Debenhams will now be closing all of its stores while it remains to be seen how many of Bonmarche Ltd and Arcadia\u2019s stores will be shuttered. One thing is for sure: an even larger hole is about to be left in the UK\u2019s already decimated retail property landscape.<\/p>\n<p>Between them, Debenhams and Arcadia rented a grand total of 16.6 million square feet of store space, with the former accounting for more than 11 million square feet,\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-12-03\/vaccine-is-too-late-for-landlords-staring-into-high-street-abyss\" target=\"_blank\" rel=\"noopener noreferrer\">according to<\/a>\u00a0Estate Gazette\u2019s Radius Data Exchange.<\/p>\n<p>Over 28 million square feet of retail space has already been permanently shut so far this year in the U.K. That\u2019s nearly eight times the total amount shut (3.6 million square feet) in 2019 and over double the amount in 2018 (12.1 million square foot). And the 2020 figure doesn\u2019t even include the fallout from Debenhams\u2019 demise and Arcadia\u2019s bankruptcy.<\/p>\n<p>Some property owners are more exposed to that fallout than others:<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Three Big Retailer Casualties in One Week: UK Retail Landlords Reel after Worst Week of Nightmare Year Some property owners are more exposed to the fallout than others. The UK\u2019s retail property sector was hammered by three big corporate casualties last week, even as the country\u2019s shopping centers began reopening after another lockdown. Two of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[29428,27230,607,19300,2080,4255],"class_list":["post-55901","post","type-post","status-publish","format-standard","hentry","category-economics","tag-lockdowns","tag-nick-corbishley","tag-pandemic","tag-retail-bankruptcies","tag-united-kingdom","tag-wolfstreet"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/55901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=55901"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/55901\/revisions"}],"predecessor-version":[{"id":55902,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/55901\/revisions\/55902"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=55901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=55901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=55901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}