Thursday 9 December 2021
5.6 C
Nottingham

House of Fraser to close 31 stores – but Nottingham remains open

Department store chain House of Fraser is to close 31 of its 59 shops, affecting 6,000 jobs, as part of a rescue deal.

If the plan is approved, 2,000 House of Fraser jobs will be lost, along with 4,000 brand and concession roles in stores.

The stores scheduled for closure, which include the flagship Oxford Street store in London, will stay open until early 2019, House of Fraser said.

The retailer needs the approval of 75% of its creditors to go ahead with the plans.

Creditors will vote on the insolvency plan, which involves company voluntary arrangements (CVAs), on 22nd June.

The House of Fraser stores identified for closure:

Altrincham • Aylesbury • Birkenhead • Birmingham • Bournemouth • Camberley • Cardiff • Carlisle • Chichester • Cirencester • Cwmbran • Darlington • Doncaster • Edinburgh Frasers • Epsom • Grimsby • High Wycombe • Hull • Leamington Spa • Lincoln • London Oxford Street • London King William Street • Middlesbrough • Milton Keynes • Plymouth • Shrewsbury • Skipton • Swindon • Telford • Wolverhampton • Worcester

House of Fraser chairman Frank Slevin said:

“Our legacy store estate has created an unsustainable cost base which, without restructuring, presents an existential threat to the business.”

Closing stores was “a very difficult decision”, said Slevin and “it is absolutely necessary if we are to continue to trade and be competitive”.