WE’LL BE HAR­RODS OF NORTH

Frasers vow af­ter £95m build­ing is sold

Daily Record - - NEWS - BY KA­LY­EENA MAKO­RTOFF FRASERS

will be­come the “Har­rods of the North” af­ter the store’s Glas­gow build­ing was bought for £95mil­lion by Sports Di­rect.

The move will save 800 jobs at the 170-year-old busi­ness on Buchanan Street.

Mike Ash­ley’s firm said they will con­tinue to op­er­ate the 350,000sq ft site as Frasers and in­vest in it to “fur­ther el­e­vate and en­hance this iconic de­part­ment store”.

The House of Fraser brand was bought by Sports Di­rect af­ter col­laps­ing into ad­min­is­tra­tion in Au­gust.

Sports Di­rect said it is “great news” for the Frasers work­force. The site is be­ing bought through Glas­gow City Coun­cil on be­half of its ma­jor­ity own­ers the Strath­clyde Pen­sion Fund.

The deal is due to be com­pleted in Jan­uary 2020.

House of Fraser said the “Har­rods of the North” vi­sion would be re­alised with the site con­tin­u­ing to sell lux­ury brands in­clud­ing Her­mes, Chris­tian Louboutin, Prada and Gucci. Michael Mur­ray, head of el­e­va­tion at Sports Di­rect, said: “We are over­whelmed and proud to own such an iconic des­ti­na­tion.

“Ac­quir­ing the free­hold en­ables us to in­vest in the store in or­der to part­ner with lux­ury brands.”

Glas­gow City Coun­cil leader Su­san Aitken said: “A ma­jor in­vest­ment on this kind of scale is a clear vote of con­fi­dence in Glas­gow.”

PRIME Store oc­cu­pies cor­ner of Buchanan and Ar­gyle Street

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