Gifts Today magazine

House of Fraser to shut 31 stores

6,000 jobs affected with closures

News broke yesterday of House of Fraser’s plans to close 31 of its 59 stores in the UK.

Its flagship Oxford Street store has been earmarked for closure. Along with the 30 other shops, it will stay open until early 2019 – after owners seek a 70 per cent rent reduction on all 31 stores.

House of Fraser’s chief executive Alex Williamson told the BBC that the move was 'brutal', adding 'we have not taken this decision lightly'.

For the rescue plan to proceed, House of Fraser needs 75 per cent of its creditors to approve the plan which involves company voluntary arrangements on 22 June.

Accountancy firm KPMG will be overseeing the insolvency process. The BBC reports that House of Fraser will also be looking for a 25 per cent cut in rents in order to keep its 10 remain stores operational.

The store’s due to close are 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.


Social Links