Fonehouse up to 32 franchises

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Fonehouse has shrugged off the loss of one of its subsidiary units, opening 32 franchise locations and maintaining its target of 50 by year-end.

The retailer opened its most recent franchises in Kingsbury, Acton and Finsbury Park in London, as well as one in Sunderland and one in Hexham, in Northumberland.

It is also in negotiations to open 10 more stores in the coming weeks, which could take its franchise count to 42 shops.

At the end of last month Fonehouse managing director Clive Bayley put Fonehouse Holdings, the original holding company for the Fonehouse retail chain, into administration before buying it out again through new subsidiary unit Fonehouse Group.

Bayley escaped a number of shop leases in the process.

“We’re very relieved to have escaped some very troublesome leases. It’s full steam ahead for us now and we can continue to bring on plenty of franchise partners,” he said.

“The stock supply is better and we’re getting a lot of support from manufacturers and networks in terms of great new products and exciting tariffs. We’re still gunning for 50 franchise locations and our main focus will now be to get into prime secondary locations, where the shop rent is slightly cheaper.”

 

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