Half a dozen closures are those that El Corte Inglés has announced for before the end of the summer and that come in addition to those already applied in the largest restructuring in its history, started two years ago, to balance the accounts. In 2021 alone, it closed eight centers and announced an ERE that affects some 3,500 employees of the shopping centers, Bricor, Hipercor, Sfera, logistics centers, offices and outlet.
If last week we found out that one of the three establishments that ECI has in the Colon street in Valencia The blind was lowered, now, a few days before the 2021 results are published (in which the company is expected to return to profit), new centers are being added.
More specifically, the list is made up of the surfaces of the trough, South Park and the men’s clothing store number 52 Serrano street in Madrid. Plus another in Bilbao’s Gran Vía and a place in Seville and another in Cordova (an old Simago which has not had commercial activity for years).
The objective is eliminate smaller and rented stores from its network to thus reinforce the large nearby centers where all the offer will be grouped in a single place. In addition, this will allow them to better adjust the operation to the ecommerce strategy.
In this way, the space on Serrano street dedicated to men’s fashion will not renew the rental contract that ends in July and will move to the El Corte Inglés shopping center at number 47 on the same street. The details of the rest of the planned closures in Madrid will be finalized before the end of the month, but the intention is promote business in the centers of Castellana, Sanchinarro and El Bercial.
On the other hand, number 20 of the Gran Vía de Bilbao will close permanently in August and, from then on, ECI will concentrate its offer in the center located at numbers 7 and 9 of the same street. In Valencia, after rejecting the opening of a outlet, it will close number 1 of the commercial buildings located on Calle de Colón and will pool the offer in the two other stores. While the two Andalusian premises mentioned will be put up for sale.
Before this announcement, El Corte Inglés I had already dispensed with other establishments this year, such as the one on Calle de La Moneda or the store located on Calle Vitoria, both in Burgos. In addition, it has also eliminated some of its mythical brands such as Amitié and Síntesis.
The largest restructuring plan in the history of El Corte Inglés is no small feat and goes through sell, close or transform up to 25 commercial surfaces of the almost 100 that it owned spread throughout the Spanish geography at the beginning of 2020.
Photos | gtres