House of Fraser may be set to announce a fresh round of store closures, after landlords reportedly refused to agree to owner Mike Ashley’s new leasing terms.
The Sunday Times reports that Sports Direct boss Ashley met with agents at CBRE last week to discuss which stores would face the axe.
Since Ashley bought HoF in a pre-pack administration deal on 10 August, stores are thought to have been operating on licences that allow them to close down with two months notice.
Ashley is also said to have offered landlords short term leasing deals tying rents to store performance, and has also offered to pay business rates on some large stores, but no rent.
Last week, the Manchester branch of HoF was announced as the latest in a series of closures, with stores in Cirencester, Shrewsbury, Hull, Swindon, Edinburgh and Exeter also understood to be closing.