‘Crucial few weeks for Lakeland Leather’
THE founder of retail chain Lakeland Leather says the business is not out of the woods yet, and the survival of its 18 stores depends on satisfactory talks with property landlords.
Lakeland Leather went into administration in June and four shops were closed with the loss of 20 jobs. The business was then acquired in a pre-pack deal by Felldale Retail, which was formed by accountant and a retail restructuring specialist Martin Foster, who is working with the Standring family.
Founder Richard Standring said: “The next few weeks are crucial to our survival. If we can secure further support from customers with more price cuts and negotiations go well with Landlords then we’ll get an idea of whether Lakeland Leather can be saved. It’s not just a question of saving one or two stores. We need to save the majority of stores otherwise we won’t have the necessary sustainability to support central overheads and it will all fail.
“We’ve come a long way with the support of our customers and the hard work of our staff, but negotiations with the store landlords is a key factor in Lakeland Leather’s future. It will be devastating to have got this far and fall now.”
Martin Foster, the sole director of Ambleside-based Felldale Retail added: “We’re still working hard to shift the £1m worth of leather overstocking – jackets, handbags and luggage – and customer support is still absolutely vital, so sales over the next few weeks are critical.
“Negotiations must also go well with the landlords and we must secure positive lease agreements for the majority of the stores if we are to have a sustainable retail business that is worth saving.”
The following stores employing 200 people remain trading: Ambleside; Keswick; Bowness on Windermere; Kendal; Morpeth; Carlisle; Gretna; Chester; Manchester; Cheshire Oaks; Southport; Beverley; York; Northallerton; Castleford; Street; Bridgend and Swindon.
Lakeland Leather and Lakeland Properties are totally un-related to the kitchen and homewares retailer Lakeland.
