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Last Updated: Tuesday, 28 October, 2003, 12:37 GMT
Selfridges UK expansion capped
Selfridges
The company already has several outlets around the UK
Selfridges will scale down the expansion of its stores in the UK.

Plans for a Bristol store in the Broadmead shopping centre have been pulled, while the future of projects in Newcastle and Leeds now appears uncertain.

Instead, the group looks likely to reinvest in existing sites following a 628m takeover by Canadian billionaire Galen Weston.

With two stores in Manchester and one in Birmingham, the company has almost half its space outside London.

A site in Glasgow's Trongate development has also been purchased for a store in Scotland.

We have been investigating the possibility of expanding in the city [Bristol] but our new owners have different investment priorities
Selfridges spokeswoman
But Mr Weston's family investment company, Wittington Investments, said the company should cut back on this multi-site strategy.

A company spokeswoman said: "No formal commitment had been made to Bristol.

"We have been investigating the possibility of expanding in the city but our new owners have different investment priorities."

In relation to the Glasgow site, she said: "We need to work on that project and we will be submitting our planning application."

The company will continue to look at opportunities in Leeds and Newcastle that "match our new investment priorities", she added.

In past months Selfridges has reported a dip in sales and difficult trading conditions at its flagship London shop but sales have been rising at the firm's two Manchester stores.




SEE ALSO:
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Unusual discs make up store's 'skin'
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Ecclestone 'ups Selfridges stakes'
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Selfridges agrees 598m takeover
12 May 03  |  Business
Selfridges hosts naked art show
27 Apr 03  |  London


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