closes La Vaguada and Parquesur to promote Sanchinarro, Castellana and El Bercial
The English Court will finalize the closure of its establishments in the shopping center in the coming weeks La Vaguada (Madrid) and Parquesur (Leganés) to boost their businesses in the areas of Sanchinarro, Castellana and El Bercial.
This has been confirmed to 20 minutes sources from the company itself, who have explained that what the company does is to dispense with “small” stores in which they were rented and that “do not have services such as supermarkets” and to bet more strongly on “other larger and more modern centers” close to these.
At the end of 2018, to reduce its financial debt, the Spanish company sold to real estate giant Unibail-Rodamco-Westfield (URW) those commercial spaces for 160 million euros. However, these stores have continued to be managed by El Corte Inglés on a rental basis.
In principle, the idea was to maintain these establishments, but the losses – some media estimates them at three million euros – that have accumulated in recent times have precipitated its closure.
From El Corte Inglés they have indicated that the group chaired by Marta Álvarez will not fire the workers of La Vaguada and Parquesur and that will relocate them to the establishments from Sanchinarro, Castellana and El Bercial.
