FENWICK LIMITED: INITIAL SUBMISSION Full Text Fenwick Limited was founded in 1882 by John J. Fenwick, with the opening of a shop in Newcastle upon Tyne. Newcastle remains the flagship store, which has grown to become one of the largest department stores in the UK. Fenwick now has ten stores, ranging from full-line department stores to more focused fashion and accessory offers. In 1891 Fenwick opened in New Bond Street, which today is one of London's most fashionable outlets. Leicester opened in 1962 and in 1976 the group took the anchor store in the Brent Cross Shopping Centre. York, Windsor and Tunbridge Wells followed, and in 1987 the group acquired Ricemans in Canterbury. In July 2001 Fenwick acquired Bentalls -a family owned department store business based in Kingston upon Thames, with a second store in Bracknell. Fenwick began as, and remains today, a privately owned family business. Of the eight main board directors, seven are Fenwicks. The single trading company is Fenwick Limited. There are a number of subsidiary companies, but these are all non-trading. As a department store operator, Fenwick sells almost every category of product, ranging from food through household and furniture, but always with an emphasis on fashion and cosmetics. Fenwick only operates within the UK. Fenwick has its own store card, which can only be used to purchase goods from Fenwick stores. The Fenwick Account Card is administered in-house and there has been no analysis of the time cost of providing this card. Details of the card are shown on Fenwick’s website (www.fenwick.co.uk) and in other documentation sent to the CC. When we acquired Bentalls, we inherited a Bentalls store card run by GE Capital. The agreement was made on 11 April, 2000 for a minimum period of three years. It is terminable upon one year's notice. Bentalls pays GE Capital a service charge, based upon a percentage of sales made on the card. There is a separate scale of charges in relation to any interest-free accounts. Details of this are shown on the Bentalls web-site (www..bentalls.co.uk). There have been no detailed investigations carried out into the profitability of the card. We do not operate any loyalty or reward schemes on either card at the present time. All information available to the consumer is shown on the application form and any relevant enclosures. Samples of these have been sent to the CC.