John Lewis will work with developers and councils to help remedy delays to developments caused by the credit crunch and said its ambitious expansion plans remain unchanged.
Ahead of the opening of its 27th store in Leicester’s Highcross scheme this week, John Lewis managing director Andy Street said: “We are absolutely committed to our expansion plans. The only point is that we are not totally in control of our destiny there: some [developments] could be delayed because of the credit crunch.”
However, he added that John Lewis, which benefits from favourable lease deals as an anchor tenant, may have to “rejig” its space to allow developers to gain more units to rent out, although he denied that it was actively involved in this.
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