House of Fraser flagship store saved from closure

HOUSE of Fraser’s flagship store on Oxford Street has been saved from closure.

The beleaguered department store group collapsed into administration before being snapped up by Mike Ashley’s Sports Direct for £90m. The key Oxford Street site in central London had been due to close under a House of Fraser company voluntary arrangement (CVA) announced in June. But Sports Direct said it will remain open. Michael Murray, head of elevation at Sports Direct and the fiance of Ashley’s eldest daughter Anna, said: ‘We said we would keep as many stores open as possible, and in less than a week we have saved the biggest store. Oxford Street was meant to close in January and now it’s safe which is great news for all parties.’