Essential reading for retailers and suppliers in the home improvement market

House of Fraser to close more stores over rent wrangle

Published: 14 November 2018 - Fiona Garcia
 

The department store chain is set to close all four of its outlets at Intu shopping centres after failing to agree “reasonable terms” with landlords.

House of Fraser, which was bought by Sports Direct owner Mike Ashley in August, revealed the business was now in consultation with staff at four stores but has not confirmed how many jobs are at risk.

As it stands, House of Fraser faces closing its Lakeside, Metrocentre, Norwich and Nottingham stores in the New Year.

There have been suggestions that the stores were “underperforming”, however, House of Fraser has not commented on this and said it was making today’s announcement “with regret”.

The company said in a statement: "We had various meetings with the landlord, Intu Properties plc, and adopted a flexible approach.

“Despite our best efforts we have been unable to agree reasonable terms for these stores to continue trading.

"Sadly, we are now in consultation with staff about the fact these stores face closure. We hope other institutional landlords will continue to work with us in order to save stores and jobs.”

The news comes just months after it was announced that the department store chain’s flagship Oxford Street store had been saved from closure, after its new owners negotiated revised terms with landlords to remain in occupation in the famous London shopping location.

The latest round of possible closures is another blow to the business after it was announced that SCS was pulling its concessions out of 27 House of Fraser stores after sales throughh the channel more than halved. 

 

Comments


(Your email address will not be published)
Already Registered?
Sign In
Not Yet Registered?
Register
Printable View E-mail Bookmark
*

What do you think?


How have outdoor living lines been performing for you this season?




Latest reader comments

re: Quick and easy wood treatment oil from Frogsuit

Beverley
Hi, please confirm if Frogsuit can be used on all external wood doors and sheds.RegardsBeverley...

re: Quick and easy wood treatment oil from Frogsuit

Chris - Frogsuit Ltd
Hi Arthur, thank you for your query. Depending on the product and the type of wood you may need to prepare the items prior to application. ...

re: Kingfisher appoints new CEO

B&Q bob
Not good news for BQ staff supermarket bosses have little respect for staff or staff retention, also see every opportunity to increase ...

re: Quick and easy wood treatment oil from Frogsuit

Arthur
Hi, I watched your slot on QVC this morning and was quite impressed. However, I do have a question. The slot demonstrated Frogsuit being ...

re: Women line up for B&Q DIY classes

Linda Harman
Are there any ladies DIY classes near Burnham on Sea Somerset...