The organic retailer Whole Foods has defended its position stating it will not give up trading in the UK despite recording £36 million losses last year.
The ‘green’ retailer’s flagship UK store, in Kensington, west London, opened its doors in June 2007 but trebled its losses to September 30, 2008, following a loss of £9.9m the previous year.
The group runs a handful of Whole Foods convenience stores, in addition to its Kensington outlet, formerly trading as Fresh & Wild in various districts of London.
The Kensington store has been criticised for a lack of customer parking while financial problems led Whole Foods to shut down a store in Bristol.
Whole Foods' troubleshooter Jeff Turnas was installed last month to take control of the retailer’s five UK store and insisted losses remained broadly flat, despite the group had being forced to take a further accounting charge of £27.1m to reflect changes to their future business plan.
Parent group Whole Foods Market Inc has already been forced to write off almost £50m used to start up business in the UK and gain a hold on the previously lucrative UK organics market.
Turnas said: "We understand the difficulties of starting out in a new country. We had a similar experience in Canada where we struggled initially. We don't see it as any different in the UK."
Turnas said it intended to open new stores in several affluent areas of the capital but would not stray outside Greater London.
