Retail occupier advisor Capa has been instructed on 30 year old surf brand Saltrock. This follows the acquisition of the Devon based company by new owners Broadgate 1972 from Administrators at KPMG on 17th August 2018. Saltrock is now a sister company of the established premium UK lifestyle Brand Crew Clothing.
Currently 25 of the stores are earmarked as having turnaround potential, with 2 of them potentially transferring to operate under the Crew fascia. Capa are liaising with L/L’s and advising Saltrock on optimum lease terms going forward in respect of the stores, locations of which include Croyde, Bude, Newquay, Looe & Woolacombe. Capa Director Mike Sheath commented “being an iconic name in this sector it had obvious appeal to the owners of Crew. So far respective parties are agreeing commercial lease terms and this bodes well for Saltrock’s future despite a very challenging current retail climate.
