V8 hoists for sale sign over Bombay Bicycle
It has asked agent Cedar Dean Gilmarc to dispose of 10 outlets, predominantly in London. The A3 properties have rents ranging from £18,000 to £175,000.
The move comes less than two years after the group bought the brand from administrators in January 2009, with backing from Shilpa Shetty, the Indian actress.
It is disposing of London outlets in Barnet, Chelsea, Greenwich, Hampstead, Kennington, St Paul’s, plus locations in Surbiton, Twickenham, Weybridge and the Merry Hill shopping centre in the West Midlands.
The Greenwich and Hampstead locations are already thought to be under offer.
Change of plan
The development is in stark contrast to the strategy outlined for the business two years ago when V8 spoke of plans to more than double the brand to 35 outlets by the end of 2010.
It is thought that the sale of the 10 properties will leave the Bombay Bicycle brand with only a handful of outlets.
Mark Stretton is editor of BigHospitality's sister publication, M&C Report.
