House of Fraser’s flagship store to close in London

House of Fraser’s flagship store to close on London’s Oxford Street

The flagship London store is owned by Mike Ashley’s Frasers Group. The iconic store is set to close in January.

A spokesperson for the Frasers Group commented: “It is with regret that we have been served notice by the landlord to close House of Fraser, Oxford Street – following granted planning permission to redevelop the site.

“Since acquiring (House of Fraser) in 2018, despite challenges faced, we have worked collaboratively with the landlord to keep the store trading 3 years longer than what was initially proposed by the previous owner.”

At the moment is not yet certain how many jobs will be lost when the store closes. Frasers believe that help is needed to help stores stay open and encourage the purchase of retail spaces.

The company commented: “As a business, who is continuing to invest significantly into the British high street, we feel it’s only fair to recognise and request an urgent review of the current archaic business rates, which continue to be astonishingly outdated,”

“If business rates were reviewed it would support the future of House of Fraser. Without this, further store closures are inevitable.”

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