Bucks’ House of Fraser stores spared from closure
HOUSE of Fraser stores in Aylesbury and High Wycombe have been spared the axe, the department store chain has announced.
They are two of 20 stores that have been saved after new owner Mike Ashley struck a last-minute deal with the properties’ landlords.
The Sports Direct and Newcastle United owner forked out £90 million for the stricken chain last month when it fell into administration.
House of Fraser confirmed the rescue deal in an announcement on Sunday (September 23), saving 3,500 jobs in the process.
The 20 stores that have been saved are in Aylesbury, High Wycombe, Altrincham, Birkenhead, Camberley, Carlisle, Darlington, Doncaster, Grimsby, Lincoln, London (Oxford Street), Middlesbrough, Plymouth, Skipton and Telford, Huddersfield, Leeds, Maidstone, Solihull and Sutton Coldfield.
Mr Ashley said: “It’s great news that we’ve already rescued approximately half (48%) of the stores that were due to close in January under a Company Voluntary Ar- rangement announced by the previous owners.
“We continue to hope to save at least 80% of stores. We’ve showed what we can achieve on the British high street when we work together with landlords. I would like to thank those landlords who have helped us to rescue approximately 3,500 jobs.”
Stores in Edinburgh, Hull, and Swindon face closure after the company and landlords failed to agree new terms.
Mr Ashley blamed a small number of “greedy landlords” for “refusing to be reasonable” and negotiate lower rents.