Matalan issue statement on future of Bamber Bridge store after building goes up for sale for £6million
and live on Freeview channel 276
The listing on Zoopla led to speculation about its future, with shoppers fearing the retailer might have plans to vacate the store after 36 years of trading in Cuerden Way.
But Matalan has sought to reassure customers, saying the store - the first branch to open in the UK in 1985 - has no plans to close.
Advertisement
Hide AdAdvertisement
Hide Ad"We can confirm that our Matalan store won't be affected by this," said a spokesman.
The landlord is seeking to sell the building, along with the 4.39 acres the store sits on, but the site will remain let to Matalan until its lease expires on May 31, 2032.
In fact, the building owner is seeking to attract prospective buyers by illustrating the recent success enjoyed by Matalan, who currently pay rent of £575,621 per year.
This will increase to £651,262 in June 2022 before rising again in 2027, when Matalan will pay £736,843 per year for the Bamber Bridge store.
Advertisement
Hide AdAdvertisement
Hide Ad"We understand Matalan trade well from the store, which has a strong and loyal customer base," say estate agents Avison Young.
"The tenant has recently completed a refurbishment of the store which we believe shows their commitment to the property.
"Matalan have recently announced positive trading results stating full price sales were up 25% in the second quarter of 2021, resulting in a positive operating profit of £35 million for the quarter."
The agents add that Matalan had an impressive annual turnover of £744 million in the financial year to February 2021, even as the retail sector suffered huge disruption due to the coronavirus lockdowns.
Advertisement
Hide AdAdvertisement
Hide AdThis equated to a pre-tax profit of £127.5million and a company net worth of £149.2million.
You can view the listing on Zoopla here.
Thanks for reading. If you value what we do and are able to support us, a digital subscription is just £1 per month for the first two months.
You will get unlimited access to hundreds of local news stories, exclusives, puzzles, 70% fewer ads and our Insider + Rewards offers. Try us today by clicking HERE.
Comment Guidelines
National World encourages reader discussion on our stories. User feedback, insights and back-and-forth exchanges add a rich layer of context to reporting. Please review our Community Guidelines before commenting.