House of Fraser set to close more stores as landlords reject deals

Mike Ashley is set to close more House of Fraser stores across the country after landlords refused to agree to his new rent proposals. The decision comes just a month after House of Fraser confirmed that it would be closing its landmark ‘Kendals’ building in Manchester in early 2019.

According to the Sunday Times, a meeting between Ashley and property agents CBRE took place last week to discuss which of the remaining stores should be closed. It is still uncertain which UK stores have been chosen.

When Sports Direct bought House of Fraser for 90 million pounds in August, Ashley announced he would aim to keep 80 percent of its stores open - 47 of the 59 stores. To date, 22 stores have been saved from closure, saving around 3500 jobs.