HOUSE of Fraser has shut several of its department stores in recent years.
The retail giant has been a familiar face on the high street for some time now but slowly its presence is diminishing.
Is House of Fraser shutting down?
House of Fraser first announced in early August 2018 that 31 of its 59 stores would be closing in January 2019.
This led to 6,000 job losses — 2,000 House of Fraser staff and 4,000 across brands and concessions.
The department store chain proposed at the time a Company Voluntary Agreement (CVA), which involved job losses under a massive restructuring plan.
But on August 10, 2018, billionaire businessman Mike Ashley of Sports Direct bought the chain for £90million cash.
At at the time the deal saved the 59 stores and kept its 17,000 workers in a job, but since then many stores have closed.
It's now owned by Frasers Group, Mike Ashley's' retail empire that also includes posh department store Flannels
Which House of Fraser stores are closing?
Since then the number of House of Fraser stores has reduced further leaving around 30 at the start of 2023 -around half the number it had after the CVA in 2018.
In November 2022 the department store chain closed its Westfield branch in Shepherd's Bush. At the time it was the last remaining London shop after locations on Oxford Street and in the City already shut their doors for good.
House of Fraser closed its department store in High Wycombe for good in January this year.
It also closed its Cardiff branch in the iconic Howells building.
The retailer has also temporarily closed its Norwich Store which it plans to reopen in the autumn following its refurbishment.
And it is also understood the Birmingham department store could also be at risk, after shoppers spotted huge discounts in the store and signs saying "all stock must go".
Elsewhere in the country stores also closed down in Leeds and Huddersfield.
Why is House of Fraser shutting shops?
A Frasers Group spokesperson said at the time of the most recent closures earlier this year: "We are big believers in the British High Street. When we bought House of Fraser out of administration in 2019, we knew we would have to make some tough decisions to secure its long-term, sustainable future.
"Whilst a number of House of Fraser stores are closing, we are also investing heavily in many others across the UK and by the end of this year will have opened over 10 Frasers stores since acquiring the business."
Source: Read Full Article