Buzz People

House of Fraser store closures to go ahead

House of Fraser has settled a legal row with a group of landlords removing one hurdle to a potential rescue deal.
The deal means the department store chain can go ahead with its plan to close 31 of its 59 shops in January.
The landlords had argued slashing rents on remaining stores was unfair to them, putting the rescue plan in jeopardy.
However, the deal will not be enough to safeguard House of Fraser's future, with it now urgently seeking fresh investment in order to survive.
House of Fraser said it was now "focused on concluding discussions with interested investors" and the out-of-court settlement with the landlords had removed "any risk to those discussions".


https://www.bbc.co.uk/news/business-45078498
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