retail
Swedish furniture retailer Ikea has announced the closure of its Tottenham store as part of plans to rethink its presence in London. Following an “extensive assessment” after a shift to online exacerbated by the pandemic, the brand hopes to invest in delivery fulfilment centres and smaller formats in the capital like its Hammersmith store which opened in February. Another Ikea store is set to open in autumn 2023.
Furniture retailer Sofa Workshop has entered administration. The retailer said that supply chain and transport costs impacted trade. Toby Banfield, one of the administrators from PwC appointed to handle the process, said: “From today, the company’s 15 stores and the website will cease to trade and no further orders will be taken. One store, 204-208 Tottenham Court Road will continue to trade for up to 14 days in order to sell through the floor stock. However, I’m pleased that we have been able to sell the order book, ensuring that customers will receive their outstanding orders.”
Leisure
American fried chicken brand Popeyes has started its UK rollout with a second site in Chelmsford, Essex. Following on from its first UK store in London’s Westfield Stratford City shopping centre, the brand aims to open a total of 350 UK sites over the next ten years. According to the group, the Westfield store has made the top ten list of Popeyes restaurants worldwide in terms of sales. The UK represents the eleventh market for Popeyes across Europe, the Middle East and Africa.
Mexican restaurant group Wahaca is undertaking a measured expansion plan in line with its sustainability efforts. The group is working with property agent P-THREE to identify London locations and landlords that prioritise the environment. Wahaca has recently partnered with food and climate specialists Klimato to provide carbon ratings on individual menu dishes to provide a picture of the climate impact of its food.
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