Off-price retailer TK Maxx is reportedly planning to expand its operations in the UK with 28 new locations, which could include smaller-format branches on high streets. Property agents have
been approached by the company in various locations such as Archway, Barnet, Elephant & Castle, Upminster and Watford. The Watford store, which is being branded as the company's 'European home', is set to open in the summer at the Atria shopping centre.
TK Maxx is looking for sites ranging from 10,000 to 30,000 square feet in size, with some stores set to be much smaller than the company's usual stores.
The expansion is expected to provide a much-needed boost to struggling high streets, which have been hit hard by Covid and cost-of-living crises. According to the Office for National Statistics (ONS), retail spending in the UK dropped by 0.4% in November 2022. TK Maxx offers significant discounts on products, with up to 60% off the recommended retail price. Photo by Loozrboy, Wikimedia commons.