Following the news that Marks & Spencer are set to close 100 of their shops, another high street store have revealed there are also planning to shut down over 30 of their locations.
The department store chain House of Fraser have revealed that they will be closing 31 of their 59 UK stores, as part of a deal to rescue the business.
A plan has been proposed that would see House of Fraser shops across the UK shut down, in all areas from the capital to Wales. Its flagship store, on London’s Oxford Street, is also set to close.
The stores that have been scheduled for closure will reportedly stay open until early 2019, when House of Fraser will slowly begin to close them. Should all 31 closures go ahead, it’s estimated that 2,000 staff will lose their jobs, including a further 4,000 head office roles.
So is your local House of Fraser on the list to be shut down? Here’s the full list of House of Fraser closures:
- Edinburgh Frasers
- High Wycombe
- Leamington Spa
- London Oxford Street
- London King William Street
- Milton Keynes
House of Fraser chairman Frank Slevin has explained the decision by referencing the difficult climate of the retail industry. He has said that HoF “urgently needs to adapt”, to stay at the forefront.
He said, “Our legacy store estate has created an unsustainable cost base which, without restructuring, presents an existential threat to the business.”
Frank also stated that store closures are “absolutely necessary if we are to continue to trade and be competitive”.
House of Fraser has been a staple on many high streets for years now – ever since the first store opened in Glasgow in 1849. Over the years, the department store became famous for providing both high-end goods, including homeware and make-up, along with more affordable brands.
The stores also sell a huge range of women and menswear, as well as electrical goods including lighting, hair tools and kitchen electricals.