AS Adventure and JLP sing up retail blues

THE owner of Cotswold Outdoor and Snow & Rock and the John Lewis Partnership dealt further blows to the high street yesterday.

AS Adventure, which owns outdoor clothing chains in the UK and Europe, is considering scaling back its physical presence as part of a range of costcutting options.

The company, owned by French private equity firm PAI Partners, also trades under the Cycle Surgery and Runners Need brands, generating annual sales in the UK of £190million and employing 1,200 people.

A source close to AS Adventure said: “Given the market environment, the company is looking at a range of costcutting initiatives.

“As part of that, it is possible that stores may be closed as an adjustment to the estate but it is way too early to say. No decision has been taken on any store closure and no advisers have been appointed.”

A retreat from the high street by AS Adventure would be in stark contrast to rival Mountain Warehouse, which signalled further expansion earlier this week after record festive trading. A further 127 retail jobs are at risk after John Lewis said it would close its Knight & Lee department store in Southsea, Hampshire.

Bought by John Lewis in 1934 it is the smallest of its 51 stores and the only one apart from Peter Jones in London to retain its original name.

Operations director Dino Rocos said: “We have not taken this decision lightly. A unique combination of factors, including the significant investment required and the opportunity to sell the property freehold, makes this the right decision for the financial sustainability of our business.”

John Lewis is not planning further closures at this time but it is outsourcing 365 of its 465 maintenance jobs, which could lead to further redundancies.

● Administrators of Patisserie Holdings have named the 71 sites that will close after the cake chain owner’s collapse. These include concessions in Debenhams, Next and motorway service areas.

KPMG said 920 jobs would be lost but the remaining 122 outlets will continue to trade while it seeks a buyer.