Conran retail performance lets group down

Design guru Terence Conran's store business has been forced to retrench, closing two of its 10 stores. According to press reports, Conran Holdings revealed yesterday that its profits fell by a third in the year to March 31 last year, forcing two loss-making stores, on Conduit Street in London and Boulevard des Capucines in Paris, to close.

Following the closures, the restaurant to retail group has three shops in London, three in Japan, one in Paris and one in New York. The group said its restaurant business had traded well in the past financial year, but admitted Conran Shops were 'finding things tough'.