6,000 jobs at risk as House of Fraser reveals closure plans
House of Fraser has revealed it wants to shut 31 stores across the country as it details its proposals for a company voluntary arrangements (CVA).
Three stores are to go in the North West, in Altrincham, Carlisle and Birkenhead. The key store n Doeansgate in Manchester city centre will remain open.
If this process is approved it will affect up to 2,000 House of Fraser colleagues and a further 4,000 brand and concession partners.
The retailer said it was “central to the significant restructuring of the business, without which House of Fraser does not have a viable future”.
The proposing of the CVAs follows the announcement made on May 2, of C.banner’s conditional agreement to acquire a 51% stake in House of Fraser Group Ltd and intention to introduce significant new capital.
Currently, House of Fraser operates 59 leased stores across the UK and Ireland and said its property portfolio “is unsustainable in its current form”.
It wants to close 31 stores, leaving the group with 28 stores. As part of this CVA process, the company also proposes to relocate the Baker Street head office and the Granite House office in Glasgow to new locations.
The stores earmarked for closure are: Altrincham, Aylesbury, Birkenhead, Birmingham, Bournemouth, Camberley, Cardiff, Carlisle, Chichester, Cirencester, Cwmbran, Darlington, Doncaster, Edinburgh Frasers, Epsom, Grimsby, High Wycombe, Hull, Leamington Spa, Lincoln, London Oxford Street, London King Willam Street, Middlesbrough, Milton Keynes, Plymouth, Shrewsbury, Skipton, Swindon, Telford, Wolverhampton, Worcester.
