The retailer said the price of maintaining its network of 59 branches across the UK and Ireland was becoming an “existential threat” to the business.
The department store group intends to seek approval from its creditors to implement company voluntary arrangements which will see more than half its shops close, and aims to negotiate reduced rent on the remaining branches.
Chairman Frank Slevin said: “Whilst closing stores is a very difficult decision, especially given the length of relationship House of Fraser has with all its locations, there should be no doubt that it is absolutely necessary if we are to continue to trade and be competitive.”
The following stores are earmarked for closure:
- Edinburgh Frasers
- High Wycombe
- Leamington Spa
- London Oxford Street
- London King Willam Street
- Milton Keynes
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