Jobs at risk as Downtown plans store sale

One of Lincolnshire's longest-established retailers has announced plans to sell one of its two remaining sites, with redundancies expected.

Oldrids & Co Ltd, which dates back more than 200 years and operates as Downtown Stores, said it was in "advanced discussions" regarding its Boston site at Wyberton Chain Bridge.

If a deal goes ahead, the site would be converted into several retail units.

The company's online operations and Grantham store would continue unaffected, the firm said.

Any deal would be subject to a staff consultation, securing tenants for the proposed retail development and planning approval, with completion not expected before March 2027, a spokesperson said.

Managing director Peter Isaac said the announcement would create uncertainty for staff and their families, but the company wanted to be transparent given the progress of discussions.

"Our consideration of this proposed deal is in no way a reflection on the performance or commitment of all those across our business who have worked very hard to make our Downtown Boston store as successful as possible."

The store will continue to trade as normal while discussions and consultations take place, Isaac added.

Oldrids began in Boston in 1804 when John Oldrid and Richard Hyde purchased a small retail unit on Strait Bargate.

The store closed in 2020, with the firm saying it had been unprofitable "for several years", adding the Covid-19 pandemic was one of the reasons for the closure.

The store on the outskirts of the town opened in the early 1980s.

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