The Famous of Cheltenham to close after 126 years of trading
After 126 trading from the same premises at 208 High Street, the directors of The Famous of Cheltenham have announced the closure of their menswear departments.
Schoolwear is not affected by the closure, the schoolwear departments and staff will move to new premises in due course and details are to be announced shortly.Chairman, Ross Cole, the great grandson of A.N. Cole who purchased the business in 1896 said: "The Cole family, directors and staff are sad to announce the closing of our menswear departments after 126 years, due to the end of the lease on our premises.
"We are very grateful for the tremendous support and loyalty we have received from our customers over so many years".
The store will launch its closing down sale on Thursday, November 1.
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Comments
by GlosYap2
Friday, October 26 2012, 12:35AM
“Incredibly sad, wonder what the plans are for the building?”
by jimjam
Thursday, October 25 2012, 9:58PM
“It's Sad that they are moving, and I feel a big mistake. Part of the charm in visiting the Shop, was the old fashioned way they do things and the timelessness. I hope they are successful in the new venture, but with Retail/shops in decline and more people shopping online, it may be the end of an Era....sad.”
by FreeRadical1
Thursday, October 25 2012, 5:01PM
“The rent was very high (I know someone who knows Ross). They could afford it before the current recession, but not any more.”
by thomas1996
Thursday, October 25 2012, 4:25PM
“Shame, a piece of Cheltenham's history gone forever. The staff are so nice too. Hope they get another job soon.”
by Takeaway22
Thursday, October 25 2012, 2:01PM
“The headline "The Famous of Cheltenham to close after 126 years of trading" is a little misleading. Shouldn't the headline be "The Famous of Cheltenham to move premises and lose a department at the same time"? But half truths are a TiG's (amateurish) specialitity.”
by nikonman2010
Thursday, October 25 2012, 1:55PM
“It will soon be a Polish food shop or a kebab late night outlet”
by Matt1006
Thursday, October 25 2012, 1:01PM
“NibNobs - maybe the Cole family have tried to buy the freehold on the building in the past, but the owner has either point-blank refused to sell it to them, or has demanded too high a price. We don't know, nor do we know the amount of rent they have been paying, or why they aren't renewing the lease.
Maybe the freeholder has refused to renew the lease, having other plans for the building. Maybe he/she/they want to now sell up, but with vacant possession and not a sitting tenant.
Perhaps the freeholder can come on here and advise us on the situation (or TiG can track them down, and ask on our behalf), along with their plans for the building's future. But I won't hold my breath.”
by he-devil
Thursday, October 25 2012, 12:48PM
“"Cheap clothes at ASDA wont affect us in any way!" The Famous 2008
http://tinyurl.com/9vmgzmv
Something affected you though!”
by ad_COMYR
Thursday, October 25 2012, 12:43PM
“Few shops own the Freehold to their own building. They can have leases or long leases under the freehold. It is not like having a mortgage on a house. This can be more flexible (they can move if they need to scale up or down as in this case). The article does not state that their rent was expensive or not.”
by NibNobs
Thursday, October 25 2012, 11:31AM
“You would think a business established 126 years ago would actually own it's own shop by now and not paying an expensive lease. Surely over the last 100 years there must have been many opportunities to buy it outright?”