House of Fraser confirms rent cut talks

By Paul Norman - Monday, January 08, 2018 11:39

The House of Fraser department store chain has confirmed it is seeking to talks with its landlords at some stores to cut rents, with market sources suggesting it is seeking up to 30% reductions.

The retailer confirmed that it had written to some landlords asking for "support" following a report from Sky News.

House of Fraser, which will reveal Christmas trading figures this week, closed stores in Leicester and Aylesbury, Buckinghamshire.

Department store peer Debenhams issued a profit warning last week after disappointing Christmas sales.

A House of Fraser spokesperson said: "We can confirm that we have contacted some of our landlords asking for their support as we drive forward with our transformation programme."

House of Fraser was bought by Chinese firm Sanpower for £480m in 2014.

pnorman@costar.co.uk

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