Office earmarks 15 loss-making stores for closure

Office jpg

Office is mulling the closure of 15 stores in the UK over the next two years as part of a wider turnaround strategy from parent company Truworths.

Truworths chief executive Michael Mark told analysts last week the group expects to run down leases on between 10 and 15 of its 139-strong UK store estate over the next two years, as part of a turnaround plan to boost sales and profits at the struggling footwear retailer.

In the presentation, Mark also earmarked three “problematic” Office concessions for closure over a two-year timeframe.

He said: “Closure of poor-performing stores remains a priority while enhancing the e-commerce offering to grow sales in a consumer environment trending towards online shopping – footwear is highly conducive to online retailing.”

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few moments before your account is updated.