Vergo Retail - History

History

Vergo Retail was formed in May 2007 in order to acquire Lewis's, Robbs and Joplings from Owen Owen Ltd which was in administration. The company was and is, owned by David Thompson, the owner of Owen Owen and a former director of Mothercare, Habitat and British Home Stores, and more recently director & shareholder of MK One which was sold in 2004 for £55m.

In 2009 Vergo Retail entered a further phase of growth, acquiring the department store operations of two co-operative societies. First, in February 2009, Plymouth and South West Co-operative Society (Plymco) agreed to sell its non-food business to Vergo. This consisted of Derrys Department Store in Plymouth, and four Homemaker stores in Devon and Cornwall. Vergo Retail took control of these stores on 15 March 2009. Secondly, on 16 June 2009, it was announced that Vergo Retail would take over the existing East of England Co-operative Society Department Stores based throughout Norfolk, Suffolk and Essex, with the 350 current staff employed by the East of England Co-operative expected to keep their jobs during the transfer. Department stores in Norwich, Ipswich, Great Yarmouth, Clacton-on-Sea and Colchester, along with six specialist home stores and one jewellery store, were transferred to Vergo Retail on 4 July 2009 with the East of England Co-operative Society retaining the freehold.