141-year-old store saved from closure after new deal agreed

Beatties department store in the centre of Wolverhampton has been saved from closure following a deal between its owners, the House of Fraser Group, and Beatties landlord.

The threat to the 141-year-old store was apparent before the purchase of the House of Fraser from its administrators by Mike Ashley only nine weeks ago. Mr Ashley’s Sports Direct group paid £90m for the House of Fraser, and made it clear at the time of purchase that they would review the business in detail , a review that many felt would condemn long standing stores to closure, and Beatties was on the list of stores to close.

Following a new agreement with Beatties’ landlord, a spokesperson for House of Fraser said: “Beatties had been earmarked for closure under the previous owners. However, we are pleased to confirm that we have now agreed new terms with the landlord in order to keep the store open.”

The news of Beatties survival was also welcomed by local MP, Pat McFadden, who said:”This is good news for Wolverhampton in terms of both jobs and the city’s identity. Beatties is an iconic store in the city with a long history and the news that the closure threat is being lifted will be warmly welcomed.”