Current track

Title

Artist

Current show

Non-Stop HMR!

06:00 19:00


House of Fraser to close down its flagship store on London’s Oxford Street

Written by on 18/11/2021

House of Fraser’s flagship Oxford Street store is to shut its doors for good.

The retailer, owned by Mike Ashley’s Frasers Group, confirmed the site would close in January.

A Frasers Group spokesperson explained: “It is with regret that we have been served notice by the landlord to close House of Fraser, Oxford Street – following granted planning permission to redevelop the site.

“Since acquiring (House of Fraser) in 2018, despite challenges faced, we have worked collaboratively with the landlord to keep the store trading 3 years longer than what was initially proposed by the previous owner.”

A general view of House of Fraser on Oxford Street, London, following an earlier incident.
Image: This Christmas will be the flagship store’s last

The company was yet to say how many jobs would be lost.

The looming closure would leave 41 House of Fraser sites – down from the 59 the group took on when it bought the brand out of administration.

The Guardian, which first reported on the closure, said the London store was understood to be owned by the German Conle family, which had received planning permission for office and restaurant space.

More on Mike Ashley

It forms part of the Oxford Street transformation from a pure retail hub as shoppers continue to shift to online purchases.

Frasers argued there was little incentive to invest in physical retail, and repeated earlier demands that the sector needed help if it was going to compete.

Sports Direct's founder and CEO Mike Ashley spoke to Sky News about the various challenges the retail group is currently facing.
Image: Mike Ashley’s Frasers Group also includes brands such as Sports Direct and Flannels

“As a business, who is continuing to invest significantly into the British high street, we feel it’s only fair to recognise and request an urgent review of the current archaic business rates, which continue to be astonishingly outdated,” it said.

“If business rates were reviewed it would support the future of House of Fraser. Without this, further store closures are inevitable.”

 Sky News

© Sky News 2020

Tagged as