Home of Fraser in Belfast survives newest closures (News)


Belfast’s Home of Fraser retailer has been spared within the newest spherical of closures on the chain as its landlord confirmed there was “no change” to its standing.

New Home of Fraser homeowners Sports activities Direct yesterday introduced the closure of websites in Norwich, Nottingham, Lakeside in Essex and Metrocentre in Gateshead after it failed to succeed in an settlement with the landlords.

The websites will face closure within the new 12 months.

However a spokesman for Commerz Actual, the German funding fund which owns Victoria Sq. Buying Centre in Belfast – the place Home of Fraser is the anchor tenant – stated there was no change to announce in Belfast.

Earlier this 12 months, Commerz Actual stated “we have now been very glad with HoF efficiency and wish to additional co-operate with them”.

The owner of the websites which can shut is London-listed Intu, which additionally owns Lisburn’s Sprucefield Retail Park and is within the midst of a possible sale to a gaggle of buyers.

Sports activities Direct stated it had engaged with the corporate however was finally “unable to agree affordable phrases for these shops to proceed buying and selling”.

Chief govt Mike Ashley stated: “We had a number of conferences with Intu, however we have been no additional ahead after 14 weeks.

“Sadly, these shops now face closing within the new 12 months. I urge different institutional landlords to be extra proactive to assist save the HoF shops of their schemes.”

Sports activities Direct is now in session with employees on the affected shops.

It comes on the identical day as Intu pushed again the deadline for a second time on its talks with a consortium of patrons seeking to take over the enterprise.

A consortium led by John Whittaker’s Peel Group now has till November 22 to make a agency provide.

Mr Ashley has beforehand made public statements attacking the “grasping landlords” of Home of Fraser shops. It is understood many landlords are reluctant to conform to the low rents Mr Ashley is demanding.

The tycoon – who owns Newcastle United – has warned time is “working out”.

Following his acquisition of the chain in August, Mr Ashley pledged to save lots of round 47 of HoF’s 59 retailers. Closures have already been introduced in Edinburgh, Hull and Swindon.

Belfast Telegraph


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.