PnP set to shut down

TREND: AS ONE STORE CLOSES, A CHECKERS STORE TO OPEN IN ITS PLACE

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On 30 September, Pick n Pay Hyde Park - which has been a mainstay of that mall - ceased trading.

All that's left now are the formalities... updating the Google Maps listing (done), packing up stock and sending it to other stores (underway) and removing the shop fittings (to come).

That the retailer spent what was likely a few million rand upgrading the store, which has always been a marginal (read: unprofitable) one, just a few years ago, tells you how badly the group has been managed.

A chance to refresh

Landlord Hyprop had already confirmed the closure last month when it released its results.

It said: “Hyde Park Corner has reached an agreement with Pick n Pay to close its store, providing an opportunity to refresh this area of the centre and improve activity. Negotiations with a new food anchor are at an advanced stage.”

It's an open secret that a Checkers will open in its place.