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25 Jan 2021 | 15:13

Frasers Group to close Jenners site in Edinburgh

(Sharecast News) - Frasers Group will close its House of Fraser store in Edinburgh in May, after it failed to secure a deal to continue its tenancy. The FTSE 250 retail group, headed by Mike Ashley and formerly known as Sports Direct said the move would result in 200 job losses.

"Despite the global pandemic, numerous lockdowns and the turbulence caused for British retail, the landlord hasn't been able to work mutually on a fair agreement, therefore, resulting in the loss of 200 jobs and a vacant site for the foreseeable future with no immediate plans," Frasers Group said in a statement to Reuters.

"Our commitment to our Frasers strategy remains but landlords and retailers need to work together in a fair manner, especially when all stores are closed."

The closure would mean the end of more than 180 years of retailing on the Princes Street site, on which the Jenners department store first opened in 1838.

Its original building was destroyed by fire in 1892, being replaced by the current building in 1895, with House of Fraser taking over the then-independent retailer in 2005.

The news also comes on the same day that it was revealed that all remaining Debenhams stores would bring down their shutters by the end of the year.

AIM-traded online fashion firm Boohoo Group confirmed it had purchased the Debenhams brand and website, but not its bricks-and-mortar locations.

The closure of the Debenhams estate is expected to result in 12,000 job losses.
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