When retail mogul Mike Ashley added House of Fraser to his portfolio in 2018, he spoke about converting the chain into the “Harrods of the high street”. And two years later, his vision is starting to take shape.
The gradual retreat of retailers from physical spaces is continuing with the latest slate of store closures coming from Jack Wills, which is now owned by Frasers Group. One central London store is on the closure list.
Sports Direct had mixed news on Monday with acquisitions boosting sales but plenty of negative numbers when bought-in business are factored out. But HoF is showing 'green shoots' and Flannels is improving.
Department store Jenners could be under threat in Edinburgh with the owner of the building it occupies, Bestseller's boss, planning to convert the space into a part-retail location with a hotel, bar and restaurant.
House of Fraser has been criticised after clothing items containing real fur were spotted on its real and virtual shelves, contradicting a no-fur policy initiated before it was bought by Sports Direct last year.
Retail billionaire Mike Ashley, the founder of Sports Direct, has demanded new rent deals are tied to sales across his store empire that now includes HoF and Jack Wills as well as Sports Direct and Flannels.