Ottakar's opts to put openings 'on hold'

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Ottakar's will "pause" plans to open new shops in Milton Keynes, Norwich and Sunderland, following disappointing results for the year to 29th January 2000. "We are currently in negotiations with landlords to extricate ourselves from leases," James Heneage, managing director, said this week.</p><p>

But he added that the chain had received backing from its bank to go ahead with the openings if necessary. "We are relaxed about it," Edward Knighton, finance director, said. Ottakar's costs for fitting a new shop are about &pound;80 per sq ft, putting the total cost for the proposed branches,...

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