Ashley talks to Fraser landlords

SPORTS Direct is in talks with House of Fraser landlords in a move that could hasten potential store closures if agreements on rents and leases are not reached.

Commercial real estate services firm CBRE confirmed yesterday that it had been appointed to advise Sports Direct “on all property-related matters” with regards to its £90m acquisition of the department store chain.

Talks will centre around rental costs and the length of leases, though local councils will also be part of some negotiations given the impact of business rates.

Mike Ashley, the Sports Direct founder, said last week that the retailer would “do our best to keep as many stores open as possible”.