Fashion chain Next is to take on three former Debenhams stores in a boost to beleaguered shopping centre owner Intu.
Next is moving into empty stores in the Gateshead Metrocentre, plus Intu shopping centres in Watford and Milton Keynes, to expand its sale of homeware and women’s clothes and move into beauty products.
The shops shut in June as Debenhams battles falling sales and huge debts, but only weeks later Intu went into administration.
The shopping centre operator had also been struggling with debts before the coronavirus crisis, but only managed to get a fraction of its rents when the lockdown of shops was imposed in the spring.
Next has taken advantage of the crisis on the High Street to pick up new locations, having previously taken over former Debenhams stores in five shopping centres owned by Intu’s main rival Hammerson. Sites were opened in Birmingham, Reading, Leicester, Glasgow and Croydon.
Gavin Prior, operations director at intu Metrocentre said: “We are delighted to make this announcement today and show that intu Metrocentre continues to be a destination that brands want to invest in. This new partnership shows how important flagship destinations are to the future of retail. We are very impressed with Next’s ambition for its new concept.
“There are many positive movements in retail and confidence within the industry that will see further announcements and good news for our shoppers.”
No opening date has been set for the new stores, but further details are expected from Next in the near future.
