TK Maxx has 58 stores in London and is eyeing expansion
The Evening Standard has learned that Loathing and homewares retailer TK Maxx has begun searches for sites in London, which could result in the opening of more small-format branches.
It is understood that a number of UK retail estate agents have recently been sent a list of locations the chain would consider opening, which include several central London areas such as Holborn and Notting Hill.
It has also named 28 locations outside the City and West End that the company will potentially look at, including Archway, Barnet, Elephant & Castle and Upminster.
TK Maxx has 58 shops in the capital, and any expansion in shopping venues will be welcome after a difficult start to the year for the high street, including stationery retailer Paperchase collapsing.
Working with property consultancies KLM Real Estate and McMullen Real Estate, TK Maxx has requirements ranging from 10,000 to 30,000 sq ft. The low end of that range is much smaller than most recent deals, including a 30,500-square-foot store in Watford.
The property firms and TK Maxx, which is owned by US firm TJX Companies and launched in the UK in 1994, declined to comment.
While many brick-and-mortar retailers are still reeling from the lockdown, some companies are encouraged by recent footfall levels and are keen to expand.
Credit: www.standard.co.uk /