Friday, May 29, 2020

Next to sell Leicester HQ

According to a report by Sky News, Next is set to sell its headquarters in Leicester, as well as three warehouses.

The move follows the closure of the retailer’s online, warehousing and distribution operations in response to staff concerns surrounding coronavirus.

It has been reported that property agent Savills has been appointed to secure a buyer for the Leicester HQ, while Acre will dispose of the warehouses.

The sale and leasebacks of the properties could create tens of millions of pounds in an uncertain time, strengthening Next’s balance sheet.

Following a stress test presenting the likely cash and profit impact for different levels of sales decline as a result of the COVID-19 outbreak, Next highlighted potential sales losses of up to £1bn.

Help us maintain our standards of journalism

Readers across the region enjoy our news site but keeping our news up to date and authoritative, without charging readers to view the site is a challenge. Especially now with the Corona Virus measures affecting us all, as many clients have been severely affected and are naturally reducing their spend on advertisements. Given this lack of revenue stream we are calling on the generosity of our readers to help us fill that void and enable our journalists to continue delivering the news that you enjoy.

Unlike many other news sites, we don't have annoying pop ups or charge scandalous prices for events. We also produce printed magazines for each title and we make these freely available to read on line too, for your enjoyment. Often, people have asked why we don't make a charge for viewers to read these magazines and news stories but we feel that would adversely affect our readership/advertisers response rate. But with advertising revenues now severely affected we need your help. So, if you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs from just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the current storm and continue in our quest to deliver quality journalism.

We value your readership and your support, as this enables us to continue to provide our regular daily news updates. We've been established over 30 years, during which we've lost count of the numerous recessions and financial meltdowns, and we intend to weather the storms caused by Covid-19. So, every reader contribution, however big or small, is invaluable in helping us to get through this. Please click here to help support your favourite news site/magazine.






Latest news

East Midlands attracts lowest levels of Foreign Direct Investment (FDI) in four years, reveals new report.

Derby and Nottingham attracted lowest levels of Foreign Direct Investment (FDI) in four years despite ranking 13th and 18th respectively in the Top-20 best...

Tinkers Lock duplex apartment proposal for Trent Bridge Quays development

The company behind the development of luxury apartments and townhouses at Trent Bridge Quays and former Muller Yard Meadow Lane in Nottingham has revealed...

Derby company wins major railway and infrastructure award  

Composite Braiding, a manufacturing firm which specialises in thermoplastic composite braiding technology, has won a major accolade at the JEC Composite Innovation Awards 2020. The...

Business confidence in East Midlands drops for fourth consecutive month

Business confidence in East Midlands fell 20 points during May to -42%, according to the latest Business Barometer from Lloyds Bank Commercial Banking. Companies in...

Strategic appointment at Air IT

East Midlands based Managed Service Provider (MSP), Air IT have appointed industry veteran, Mark Whitehead in a new role as Sales Director. The new appointment...

Related news

The FSE Group announces new Head for £40million MEIF Debt Fund and CBILS accreditation

New accreditation will now allow The FSE Group to issue loans from the Midlands Engine Investment Fund (MEIF) Debt Fund backed by a Coronavirus Business...

East Midlands attracts lowest levels of Foreign Direct Investment (FDI) in four years, reveals new report.

Derby and Nottingham attracted lowest levels of Foreign Direct Investment (FDI) in four years despite ranking 13th and 18th respectively in the Top-20 best...

Tinkers Lock duplex apartment proposal for Trent Bridge Quays development

The company behind the development of luxury apartments and townhouses at Trent Bridge Quays and former Muller Yard Meadow Lane in Nottingham has revealed...

Derby company wins major railway and infrastructure award  

Composite Braiding, a manufacturing firm which specialises in thermoplastic composite braiding technology, has won a major accolade at the JEC Composite Innovation Awards 2020. The...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close