The department store will shut in 2024.
Lazari Investment's director, David Silverman, said their plans for the site include creating a "mixed use development"
The store, along with the adjoining property, has been sold to Lazari Investments and will shut in 2024. Simon Claver, Fenwick's chairman, said the sale had "been a difficult decision for the Fenwick family".Following its sale Fenwick will be left with eight stores in the UK, including its flagship in Newcastle, York, Brent Cross, Colchester and Kingston.In a statement, the company explained: "Amid the turbulent economic environment, fresh capital investment is required in order to return the business to profitable growth.
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