House of Fraser store’s future still in balance
DEPARTMENT store chain House of Fraser is set to announce a spate of store closures this week, with new owner Mike Ashley blaming “greedy landlords” for potentially hundreds of job losses.
The Sports Direct tycoon, who recently bought the department store chain out of administration for £90 million, has been in talks with landlords over rents in recent weeks.
This has led to the rescue of several House of Fraser stores including in the Telford Shop- ping Centre, Oxford Street London and Plymouth.
But fresh doubt has been cast over the landmark store in Bir- in mingham city centre along with shops in Solihull and Leamington Spa plus Beatties in Wolverhampton. Mr Ashley said “time is running out” for the remainder of the 59-store estate.
A spokesman for House of Fraser said: “Some landlords are being very collaborative in order to give us a chance at turning the business around, giving House of Fraser a lifeline and saving hundreds of jobs.
“However, some greedy landlords would rather see the stores close than help save the jobs of hundreds of people. continue to try and these landlords but time is running out.
“Some closures announced.”
It is understood that landlords are reluctant to agree to the low rents Mr Ashley is demanding.
In a previous interview, Mr Ashley said he hoped to save 47 of the brand’s 59 outlets, a major reversal from earlier this year when 31 were scheduled for closure, including the Birmingham branch in Corporation Street. We will convince ultimately will be