Council delight at Bennetts sale
Published: 21 June 2019
Cllr Chris Poulter, Leader of Derby City Council, today welcomed the news of the sale of Bennetts to London Sole Limited.
Bennetts went into administration in February threatening the future of the flagship department store, which has been a key part of the Cathedral Quarter since it was established in 1734. Administrators were appointed and have now announced that the sale of the Bennetts name and all assets in the Derby store has been completed. London Sole is part of a group of companies owned by Charles James Associates whose other business interests include French Sole Ltd, the well-known British shoe brand.
Paul Mallatratt, Joint Administrator, said:
We are very pleased to have achieved a sale of the business in such challenging economic conditions and to be able to handover the business to new long-term owners, who wish to ensure the iconic Bennetts brand continues to have a strong presence on Irongate. We look forward to seeing how Bennetts develops over the coming months and would again like to thank the public and staff for their continued support during the administration process.
David Howick, director of London Sole, said:
We are delighted to take ownership of the iconic Bennetts store in Irongate and are proud to have acquired the store with its wealth of history and tradition. We are keen to revive and develop the store while ensuring everything that is loved about the Bennetts brand remains intact.
Cllr Chris Poulter, Leader of Derby City Council, said:
I’m delighted that this iconic Derby brand will continue to be part of the Derby story. It’s great news for the Cathedral Quarter and whole the City but I’m especially happy for the staff who have dealt with the past few months uncertainty with a tremendous attitude. In such a challenging time for retailers on the high street, I hope now that the new owners are able to develop the store and ensure its long term future.