Cortefiel & Pedro del Hierro in Avinguda Jaime III, Palma. | Jaume Morey

The Cortefiel and Pedro del Hierro shop in Avinguda Jaume III is closing on Saturday after 44 years because of a hike in rental prices.

The company says all 16 employees will be transferred to other shops.

“The stores at Porto Pí and Fan Shopping Centre will stay open and staff will be relocated to other Cortefiel stores, Springfield or Women’s Secret,” they said. “There won’t be a sale because all of the stock will be sent to other shops on the Island."

Cortefiel, Pedro del Hierro, Springfield, Women’s Secret, Fifty, Hoss Intropia, High Spirits and Slowlove are all owned by the Tendam group, which has closed several branches on the mainland in the last year.

The closure of yet another flagship store in the city centre has drawn criticism of Palma City Council.

“Even the national brands are abandoning the centre for locations elsewhere,” said Afedeco. “The Mayor of Palma and the Town Hall have opted for macro-commercial centres to the detriment of local proximity urban commerce.”