Long-running Woolwich business 'pushed out by Chinese consortium'

Long-running Woolwich business 'pushed out by Chinese consortium'

Long-running Woolwich business 'pushed out by Chinese consortium'

First published in News by

One of the longest-running shops in Woolwich is set to close at the end of next month, following a dispute over its lease.

Budget Carpets and Beds in Powis Street has been a well known site in Woolwich since the 70s, when owner Alex Palmer bought the site.

The land was sold three years ago by Mr Palmer following substantial bids from Sainsbury’s. They then sold the land on last year to a Chinese consortium - who now refuse to renew the business's lease.

Mr Palmer called the closure "a great shame" and said that it could cost 16 people their jobs, including one carpet fitter who has worked there for several decades.

He described Budget Carpets and Beds as a "family business, where staff were encouraged to help the customers."

By refusing to renew the lease, the business will lose two warehouses. Reacting to this, Mr Palmer said "They’ve got their own plans, it’s a great shame but we can’t just go out and a buy new warehouse in the next month."

The warehouses are claimed to have been used during the First World War to store hay for the horses in the Royal Artillery and Mr Palmer says an archaeological friend described one of the warehouse walls as "very old and surprising to see."

Speaking on the businesses prospects for the future, Mr Palmer said: "We will keep in touch, we’ve still got a warehouse in Tunbridge Wells to work out of."

It is unclear what the warehouses will be used for when the lease runs out on May 31.

Comments (3)

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6:00pm Thu 10 Apr 14

Virtual-Monster says...

I guess Mr Palmer, who chose to sell the land, has learnt a valuable lesson.

Seeing all that Sainsbury's cash flapping around before his eyes obviously made him forget that selling the land could result in his business being booted off as soon as the new land owner wanted him gone.

I'm sure the oodles of Sainsbury's cash will help him sleep at night......
I guess Mr Palmer, who chose to sell the land, has learnt a valuable lesson. Seeing all that Sainsbury's cash flapping around before his eyes obviously made him forget that selling the land could result in his business being booted off as soon as the new land owner wanted him gone. I'm sure the oodles of Sainsbury's cash will help him sleep at night...... Virtual-Monster
  • Score: 7

8:43am Fri 11 Apr 14

mr kent says...

If Mr palmer hadent of sold it of for his own gains then the employees jobs would be safe....greed ah gets to em all...
If Mr palmer hadent of sold it of for his own gains then the employees jobs would be safe....greed ah gets to em all... mr kent
  • Score: 8

10:22am Fri 11 Apr 14

madras says...

Per above - surely this would have happened anyway had Sainsbury's decided to develop the land themselves - and I cannot help but think with the cash from Sainsbury's 'substantial bid' would help him find a warehouse...
Per above - surely this would have happened anyway had Sainsbury's decided to develop the land themselves - and I cannot help but think with the cash from Sainsbury's 'substantial bid' would help him find a warehouse... madras
  • Score: 7

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