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Intu's House of Fraser stores to stay open

Sports Direct and Intu have agreed to keep the four House of Fraser stores in the shopping centre owner’s malls open.

In November, Drapers learned that the House of Fraser stores in the Intu Chapelfield in Norwich, Intu Lakeside in Essex, Intu Metrocentre in Gateshead and Intu Victoria in Nottingham would close in February and March this year after the two parties failed to agree a deal. 

However, an “interim agreement” has now been signed.

A spokeswoman for Intu said: “We are committed to working with all our retailers to ensure they are perfectly placed to showcase their brands and draw in shoppers. Our high-footfall winning destinations are designed to help all our tenants flourish.

“We confirm that following constructive discussions with Sports Direct, we have reached an interim agreement on four House of Fraser stores at Intu Chapelfield, Intu Lakeside, Intu Metrocentre and Intu Victoria Centre.”

Readers' comments (3)

  • The key words here are 'interim agreement'.

    I suspect Intu have completely capitulated, however it does not feel like anything like a long term agreement in what is basically a test the water exercise for Ashley.

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  • Reality comes home for Intu, when many of the BHS units still remain empty after 2years the chance of finding new high quality retailers to take over these HOF units is slight.

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  • What happens when other retailers cry wolf to Intu? They've bottled it and the consequences could be more severe than losing a fading retailer.
    I don't blame Ashley's tactics however. He knows Intu are involved in what is a slowly dying concept and he is not going to pay more than he wants to. Job done.

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