Derby department store Bennetts sold to French Sole owner

By

Sandra Halliday

Published
Jun 21, 2019

London Sole Limited, the owners of British shoe brand French Sole, have acquired historic Derby department store Bennetts out of administration.

The new owner, part of a group of companies owned by Charles James Associates, has bought the Bennetts name and intends to restore the troubled business, dubbed the oldest department store in the world, to its former glory.

It collapsed into administration in February this year after struggling to cope with the challenging trading conditions on the UK high street.

Paul Mallatratt, joint ddministrator, said: “We are very pleased to have achieved a sale of the business in such challenging economic conditions and to be able to handover the business to new long-term owners, who wish to ensure the iconic Bennetts brand continues to have a strong presence on Irongate.

“We look forward to seeing how Bennetts develops over the coming months and would again like to thank the public and staff for their continued support during the administration process”.

David Howick, director of London Sole, added: “We are delighted to take ownership of the iconic Bennetts store in Irongate and are proud to have acquired the store with its wealth of history and tradition. We are keen to revive and develop the store while ensuring everything that is loved about the Bennetts brand remains intact.”

Established in 1734, Bennetts is certainly one of the oldest department stores in the UK. It started out as an ironmongers and became a general retailer after it was bought by George Bennett in 1864.

The business later opened a further store in Ashbourne, which has now closed down.