- Prachi Singh |
While Mike Ashley’s Sports Direct, the new owner of the troubled department store chain House of Fraser is putting in efforts to save the latter's stores from closing, The Guardian report says that three stores based in Edinburgh, Hull and Swindon would be closed following disagreement over rental terms with the landlords. Ashley is said to be demanding lower or zero rentals from the landlords.
After House of Fraser fell into administration, Ashley purchased it for 90 million pounds and has so far managed to save 20 stores from closing saving around 3,500 jobs. However, the report added quoting Ashley telling the Press Association that he had been unable to save outlets in Edinburgh, Hull and Swindon after failing to agree terms and a fourth House of Fraser in Bath may also shut shop if rental negotiations with the landlord fail.
House of Fraser’s 47 outlets including its flagship Oxford Street store as well as stores in Altrincham, Aylesbury, Camberley, Carlisle, Darlington, Doncaster, Grimsby, High Wycombe, Lincoln, Middlesbrough, Plymouth, Skipton, Telford, Huddersfield, Leeds, Maidstone, Solihull and Sutton Coldfield have been saved from closing.
Picture:House of Fraser via FashionUnited