House of Fraser to close 31 sites & axe 6,000 jobs to stay afloat


British department store group, House of Fraser is to close 31 of its 59 shops, with 6,000 job losses, as part of a rescue deal.

The retailer needs the approval of 75% of its creditors to go ahead with the rescue plan. Creditors will vote on the plan, which involves company voluntary arrangements (CVAs), on 22 June.

If the plan is approved, 2,000 House of Fraser jobs will go, along with 4,000 brand and concession roles.

The stores scheduled for closure, which include its flagship London Oxford Street store, will stay open until early 2019, House of Fraser said.

The stores to close 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 and Worcester.

Last month, House of Fraser's Chinese owner, Nanjing Cenbest, reached a conditional agreement to sell a 51% stake to the Chinese owner of Hamley's, C.banner. The sale is conditional on the restructuring plan being approved.