- Huw Hughes |
Sports Direct and shopping centre giant Intu have struck a deal to save four House of Fraser stores which were set to close in early 2019.
The stores in the Norwich, Metro Centre, Lakeside and Nottingham malls will now stay open, saving over 1,000 jobs, the Guardian reported. Last year, talks between Sports Direct owner Mike Ashley and Intu turned sour when a rental agreement couldn’t be reached for the four House of Fraser stores, and an announcement was made that they would be shut.
Earlier this week, it was revealed that House of Fraser had suffered a difficult Christmas trading period, with sales dropping year-on-year in the 12 weeks up to December 18, according to Kantar Worldpanel figures reported by the Telegraph.