JD Sports Fashion has reopened six former Bank stores under different fascias, including the new Tessuti x Scotts concept.
The 3,000 sq ft former Bank store in Blackpool’s Houndshill Shopping Centre reopened as Tessuti x Scotts on May 8.
Drapers understands it is the first of six stores for the concept – which combine the two JD-owned retailers’ menswear offers – but it is not known if they will all occupy former Bank locations.
A spokeswoman for JD told Drapers a small number of the collapsed young fashion chain’s stores had JD or Scotts listed as the leaseholder or guarantor, making it “economically advantageous” to re-occupy them.
She said six Bank stores have reopened so far, but declined to say where or under which fascias. She added that more reopenings are planned.
JD is also looking to buy back two or three Bank stores – for which Bank was the lessee – for its five-store young fashion business Ark.
One young fashion source said: “It will be interesting to see what stores are going to open where; they have obviously snapped up the best-performing ones.”
JD sold Bank to a subsidiary of Hilco Capital last November and the chain went into administration on January 5, leading to the closure of all 84 stores.
Drapers understands the sale of its IP assets, including its domain name, customer database and in-house fashion brands, has gone through. The firm handling the sale, Metis Partners, declined to name the buyer. Bank’s domain name continues to redirect to Ark’s website.
Tessuti has five standalone stores in the UK and Scotts has 35.
The Blackpool Tessuti x Scotts store stocks brands including Hugo Boss, Aquascutum, Adidas Originals and Lacoste, with premium and mid-market labels grouped together.
As well its JD chain, Ark, Tessuti and Scotts, other fashion retailers within the JD Sports Fashion group include Mainline and Originals. JD closed its 11-store own-brand menswear retailer, Open, in January.