Colchester’s MAD says it was misled as Lion Walk chases unpaid deposit
Colchester jewellery retailer MAD has moved out of Lion Walk Shopping Centre following a dispute over money.
Lion Walk Shopping Centre claims that MAD has failed to pay a £3,000 deposit for a unit in the centre and its lawyers are now chasing MAD manager Owen Draper for the money and to settle a three-year lease.
However, Daper claims he was mislead over the footfall in Lion Walk Shopping Centre and claims that the centre increased the initial agreed deposit. He told the Essex County Standard: “The footfall was substantially less than we were told it would be. The costs of the rent were too high for the takings in that location. Rather than letting down our customers and folding the business, our only sensible option was to move.”
Lion Walk Shopping Centre manager Paul Bentham described these claims as “pure fabrication”. He said: “He has signed a rental deed for £3,000. That cannot change, it’s a legal document.”
MAD has since opened a shop on Colchester’s Osborn Street. The store stocks gold and silver jewellery and carries brands including Truth, Cargo, Luna and Sekonda.