Somerfield's Bristol office to close

Office design news from Morgan Lovell

Published on 16-02-2009

Supermarket chain Somerfield is set to close its Bristol head office if the proposed £1.6 billion takeover of the firm by the Co-operative Group goes ahead next month.

The Bristol Evening Post has reported that up to 800 jobs could be lost as a result of the planned closure, which could take place in 18 months if the deal goes through.

Somerfield chief executive Peter Marks told the newspaper that the rebranding of the company could take up to two years to complete and during this period significant restructuring is likely to take place across the group.

Meanwhile, lettings agent Savills recently released figures showing that the office rental market in Bristol fell significantly last year.

Office interior uptake fell from 895,000 sq ft in 2007 to 608,600 sq ft in 2008, highlighting the fact that a decline in business confidence and worsening economic conditions have had a dramatic impact upon office uptake in the area.