House of Fraser at Lakeside to close

THE House of Fraser store at intu Lakeside is one of a number that will close in the new year.

The department store chain, bought out of administration in August by Mike Ashley’s Sports Direct, will shut its Lakeside, Metrocentre, Norwich and Nottingham outlets in the New Year.

Mr Ashley said the landlord, Intu Properties, had been unwilling to reduce rents for the ailing shops. He added that there had been “multiple meetings with Intu”.

“We were no further forward after 14 weeks. Unfortunately, these stores now face closing in the New Year. I urge other institutional landlords to be more proactive to help save the HoF stores in their schemes,” he said.

Intu confirmed it had been unable to reach an agreement with Mr Ashley. A spokesperson said: “House of Fraser stores in our portfolio will be closing in early 2019, representing around 1% of our secured rent and 526,000 sq ft of retail space.

“We are enthusiastic about the opportunity to re-engineer and re-let this under performing space to new and exciting alternatives.”