Next looks to sell HQ and three warehouses

Next is reportedly looking to offload its London HQ and three of its warehouses in its latest effort to mitigate the impact of Covid-19 on the business.

The news comes after the company announced last week it was halting online orders during the pandemic to ensure the safety of its employees working across its warehousing and distribution operations.

The British retailer has now appointed real estate firm Savills to find a buyer for its Leicester HQ, and property firm Acre to oversee the disposal of three warehouses, The Guardian reports.

Last month, the company warned of a potential one billion pound drop in full-price sales in the 2020 financial year due to the novel coronavirus.

It also announced plans to raise up to 100 million pounds by selling and leasing back properties.

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