10.7 C
London
Tuesday, November 30, 2021

Mike Ashley’s Home of Fraser to shut down its flagship retailer on London’s Oxford Avenue | Enterprise Information

Must read

- Advertisement -


Home of Fraser’s flagship Oxford Avenue retailer is to close its doorways for good.

The retailer, owned by Mike Ashley’s Frasers Group, confirmed the location would shut in January.

A Frasers Group spokesperson defined: “It’s with remorse that we have now been served discover by the owner to shut Home of Fraser, Oxford Avenue – following granted planning permission to redevelop the location.

“Since buying (Home of Fraser) in 2018, regardless of challenges confronted, we have now labored collaboratively with the owner to maintain the shop buying and selling 3 years longer than what was initially proposed by the earlier proprietor.”

Picture:
This Christmas would be the flagship retailer’s final

The corporate was but to say what number of jobs can be misplaced.

- Advertisement -

The looming closure would go away 41 Home of Fraser websites – down from the 59 the group took on when it purchased the model out of administration.

The Guardian, which first reported on the closure, mentioned the London retailer was understood to be owned by the German Conle household, which had obtained planning permission for workplace and restaurant area.

It varieties a part of the Oxford Avenue transformation from a pure retail hub as consumers proceed to shift to on-line purchases.

Frasers argued there was little incentive to put money into bodily retail, and repeated earlier calls for that the sector wanted assist if it was going to compete.

Sports Direct's founder and CEO Mike Ashley spoke to Sky News about the various challenges the retail group is currently facing.
Picture:
Mike Ashley’s Frasers Group additionally contains manufacturers comparable to Sports activities Direct and Flannels

“As a enterprise, who is constant to take a position considerably into the British excessive road, we really feel it is solely honest to recognise and request an pressing assessment of the present archaic enterprise charges, which proceed to be astonishingly outdated,” it mentioned.

“If enterprise charges have been reviewed it could help the way forward for Home of Fraser. With out this, additional retailer closures are inevitable.”



Source link

More articles

- Advertisement -

Latest article