King Sturge to dispose of Qube and OSC leases (UK)

King Sturge's retail team has been appointed by administrator KPMG to dispose of the 80 store leases held under the Qube and Original Shoe Company fascias.

Around 80% of the stores had traded as Original Shoe Company, which sold branded lifestyle clothing and footwear, while footwear chain Qube accounted for the remainder. KPMG has reportedly already closed about 45 of the stores.

Martin Crossley, Retail Partner at King Sturge, comments: "We will be seeking buyers for individual units or groups of shops from the portfolio which is spread across the UK. It's a tough market but a good proportion of the units are in prime high street locations which will enhance their appeal."

Notable stores in the portfolio – which has a northern UK bias – include those in Argyle Street, Glasgow; Arndale Centre, Manchester; Meadowhall, Sheffield; Bullring, Birmingham and Whitefriars, Canterbury.

KPMG has previously appointed King Sturge to advise on shop disposals in connection with the Dolcis and Kwik Save administrations.

Source: King Sturge

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