SEVEN Oxford Street giants are reportedly at risk of closing for good.
Zara, River Island and Urban Outfitters could be forced to move or shut up shop entirely when their leases end.
The three shops all share a building whose owners are looking to renovate.
Swarovski, Bershka, Life Pharmacy and Pandora also operate from Park House, which is nestled on the famous London road.
According to claims in a Westminster City Council planning document, all seven businesses intend not to renew their leases once they expire.
However, a spokesperson for the jewellery brand Pandora said no decisions about the leases had been made yet.
The Sun has approached Montagu Evans, the planning consultancy acting as the agent for Park House for comment.
Plans submitted to the council reveal that Park House’s owner is looking to make a number of changes to the building including adding a kitchen for restaurant use.
There is also talk of improving the face of the building.
A combination of the Coronavirus and issues with the building itself are the main factors behind the proposed renovation work, according to the applicant.
Poor signage and a lack of variation between units have been blamed for the downfall of the property.
The proposal was presented before the council’s Planning Sub-Committee on January 7 and officers have recommended it for approval.
According to Companies House, the nine-storey block is co-owned by Qatar Central bank.
As well as rental units, which are not fully occupied, there are 39 flats and office space over the floors.
The council first granted planning permission to build Park House in 2006.
The Sun has also approached Westminster City Council for comment.
Oxford Street was once branded “the jewel in the crown of Britain’s retail sector” but has suffered several high-profile closures in recent years.
Retail experts have been warning of the death of the UK high street for years, with the pandemic only serving to accelerate moves towards online shopping.
The road boasts a string of vast superstores from top brands including Primark, John Lewis, M&S and Microsoft, as well as a host of luxury and designer outlets.
As part of a desperate bid to preserve the row of shops, London Mayor Sadiq Khan has announced that a large chunk of Oxford Street will be pedestrianised as part of a £150 million redevelopment plan.
Mr Khan said that “urgent action” was required to restore the street back to its “former glory” as the hub of British shopping.
