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House of Fraser's Oxford Street store to remain open

House of Fraser's flagship store on London's Oxford Street will continue trading.

DEPARTMENT STORES

House of Fraser's Oxford Street store to remain open

House of Fraser's flagship store on London's Oxford Street will continue trading.

The flagship store was going to be closed under House of Fraser's company voluntary arrangement that was announced in June.

James Keany of CBRE, the real estate firm advising House of Fraser, told the BBC: "This deal only happened because all parties realised it was better to keep the store open and fully operational. It was a real case of landlord and tenant genuinely working together and at great speed."

Following a £90 million deal to rescue the collapsed department store chain, new owner Sports Direct has pledged to keep 80% of its 59 stores open.

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