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House of Fraser Manchester to stay open

The House of Fraser Kendals store in Manchester has been saved from closure following an agreement with the landlord.

HoF owner Sports Direct said Manchester City Council was “instrumental” in working alongside the retailer and the landlord to help secure the future of this store.

Approximately 568 jobs have been saved.

Mike Ashley, owner of Sports Direct, said: “This demonstrates that when landlords, local authorities and retailers work together, the outcomes can be outstanding. When working together we can make a real difference to the high street.”

Meanwhile, Ashley will appear at the housing, communities and local government committee at Westminster at 3:30pm today.

Ashley is expected to discuss how business rates rebates do little to help big companies, This is Money reports.

Chancellor Philip Hammond announced in the Budget that business rates for smaller retailers would be cut by a third, but no relief was provided for larger retailers. 

 

Readers' comments (1)

  • Eric Musgrave

    It would be interesting to know the precise role played by Manchester city council in this deal. Has it underwritten it in some way/ Has it waived the business rates on the store for a period? I can't see why Ashley and the landlord would have changed their positions without some entity stumping up some cash. Anyone got the answer? And as always, I'd be sceptical about how "safe" the 568 jobs are. Will the old HoF contracts be honoured or will they be on Sports Direct-style contracts? I know what my guess is!

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