Derby department store set to be sold out of administration

Stricken Derby department store Bennetts has been sold to a mystery buyer – but the Ashbourne branch is set to close.

The joint administrators of 300-year-old Bennetts has said that a sale of the Derby store has been agreed, subject to contract, adding that details of the buyer will be disclosed as soon as the sale completes, which both parties expect to be before the end of April.

Paul Mallatratt, joint administrator, said: “We are very pleased to have achieved a sale in principle, which will ensure the iconic Bennetts brand continues to have a strong presence on Irongate.

“We are confident that the proposed purchaser, who has existing retail operations in the South of England, will be able to revive the store whilst also preserving everything that is loved about the Bennetts brand.”

Bennetts has been a stalwart of the Derbyshire high streets for over 300 years, with the first shop opening on Irongate, Derby in 1734.

Mallatratt added: “Disappointingly it has not been possible to secure a buyer for the Ashbourne store, and we have therefore commenced a closing down sale.

“We would like to express our sincere thanks to all staff in Ashbourne who, throughout the period of the trading administration, have conducted themselves with the utmost professionalism.”

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