Store Twenty One’s future looking uncertain

As further evidence that high street retailing is faltering, market commentators are expressing concerns over the future viability of the Store Twenty One chain. The business had negotiated a CVA last year which saw it able to shutter 77 under-performing stores whilst agreeing rent reductions and/or monthly rather than quarterly rent payments with others. It is understood that the retail chain, owned by Grabal Arok since 2007, is in talks with its lenders as store sales have continued to disappoint.

At the value end of the market competition is intense and smaller chains are extremely vulnerable, Brantano being another example.