Setback for £155m retail park scheme as Debenhams pulls out

Struggling department store chain Debenhams has scrapped plans to become the anchor tenant of the £155m Fosse Park extension in Leicester, according to reports.

Leicestershire Live says that following its CVA arrangement in May, Debenehams bosses have decided against opening at the retail park.

A spokesperson said: “Further announcements will be made in due course including an update on the anchor space, where following the approval of its CVA, Debenhams has confirmed that it will not be progressing with its new store.”

Work started on the £155m Fosse Park development in Leicester, after The Crown Estate, on behalf of the Fosse Partnership, appointed contractors earlier this year.

The development will bring forward a redeveloped Food Court, create 13 new retail stores and 16 food and beverage units.

Bowmer + Kirkland (B+K), the contractor that originally built Fosse Park almost 30 years ago, was appointed to deliver the new development, along with Fox Lloyd Jones as project managers.

Mike Bell, senior asset manager at The Crown Estate, which own half of Fosse Park, told Leicestershire Live: “Following the news that Debenhams will not be taking a store at Fosse Park, we have been actively working with the local authorities on our future plans and engaging with the market to explore exciting new brands for the space when it opens in 2020.”

“We look forward to providing further updates in due course as we create a brilliant place for visitors, shoppers and the local community to enjoy.”

The Fosse Park extension is set to be completed in 2020.