50,000 sq ft city centre department store closes after 280 years
Suzanne Lovell
A statement has been issued by Oxford City Council following the announcement a 280-year old department store is to close, leaving 50,000 sq ft vacant in the city centre.
Boswell & Co, (known as Boswells) which dates back to 1738, is based on the corner of Broad Street and Cornmarket Street and owns part of its building while leasing part from the council. The council owns the section from 1 - 5 Broad Street which Boswells has a lease on until 2058. The remainder of the building, 31 Cornmarket Street, is owned by the store.
The company told staff on Wednesday, November 27 the store is likely to close next year and later issued a statement which said: "The Board has been intensively pursuing all options for preserving the business but, due to prevailing adverse retail conditions, has concluded that the store is likely to close in 2020.
"GCW have been appointed to deal with all enquiries in respect of the property."
Oxford City Council issued its own statement from chief executive, Gordon Mitchell.
It said: “Everyone in Oxford would be sad to see Boswells close. It has been an important fixture of our wonderful city for more than 280 years.
“The owners of Boswells have a long-term lease on the site, and are considering their options. The City Council, as the freeholder of part of the site, will work with the owners to try to achieve the best outcome for the city.
“Although it would be sad to see Boswells close, it is worth stating that Oxford city centre, despite the internet and changing shopping habits, is performing significantly better than most city centres in the UK.
"Around half a billion pounds has been invested in Oxford city centre in recent years; significant redevelopments are on-going by Jesus, Lincoln and Nuffield colleges and in the Covered Market; and there have been more than a dozen new retail or food and beverage openings in recent months.”
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