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House of Fraser Swindon to stay open

Sports Direct and FI Real Estate Management (FIREM) have reached a deal to keep House of Fraser’s Swindon store in The Brunel Shopping Centre open.

Revised terms for the two-storey site will ensure it will stay open and jobs will be protected.

Sports Direct initially announced in September it could not make a deal with FIREM and would be closing the branch.

A spokesperson for FIREM said: “There has been understandable concern about the future of House of Fraser and we are delighted to have agreed commercially viable terms that permit its continued presence at the Brunel. The determination of both parties to secure agreeable terms was fuelled by the knowledge of how pivotal this store is to the local economy and the people who live and work here. We look forward to working with the new management team to ensure the future success of the store.”

 

Readers' comments (2)

  • I think MA is now realising landlords will walk away rather than accept his no rent deals. Good on them for holding out for something better all our pensions depend on it.

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  • Eric Musgrave

    Perhaps Drapers might like to check that "jobs will be protected" by the new House of Fraser owner. It's a nice fluffy PR line that Mike Ashley puts out a lot - rather like his "Harrods of the high street" nonsense. It's a perfectly reasonable question to ask how many staff HoF Swindon employed before the administration and how many it will employ now, and are they on the same terms? We also should know how many concession staff have gone as companies choose not to work with Ashley. Just a thought...

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