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Oct 3, 2019
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New buyer found for Bennetts after French Sole deal falls through

Published
Oct 3, 2019

Bennetts in Derby, thought to be the oldest department store in the world, has been acquired by a local businessman who has pledged the keep its name alive.


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Administrators at Bridgewood Financial Solutions confirmed the sale after taking back control of the department store, including all of its assets, in August.

The 285-year-old retailer collapsed into administration in February and a deal was subsequently agreed with French Sole owner London Sole for its name and assets.

But the sale fell through when London Sole failed to meet a number of payments.

The new owner of Bennetts has been unveiled as Paul Hurst, a Derby businessman who owns The Old Bell Hotel.

He is said to be planning a new retail proposition, including an online store, which will retain the ethos of the Bennetts brand whilst aligning it more closely with the current retail environment.

The department store’s Iron Gate store, which opened to the public in 1734, will host a stock clearance sale before closing down, but Hurst said he is looking for a new location for the retailer, according to local media reports.

Paul Mallatratt, joint administrator, said: “Following the concerning turn of events in August we are pleased to have found an alternative solution for Bennetts, and especially one led by a person evidently committed to Derby’s Cathedral Quarter.

“We will be working closely with Paul Hurst and his team in order to ensure the smooth transition of Bennetts to its new owners by the end of October.”

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