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Sports Direct to start talks with House of Fraser landlords

Sports Direct has appointed property agency CBRE to start talks with House of Fraser landlords over the coming days.

After the sportswear group acquired the business and assets of House of Fraser from administrators on Friday for £90m, property and industry sources suggested to Drapers that owner Mike Ashley may close some branches in the portfolio or convert them into Sports Direct fascias.

House of Fraser currently has 59 stores, 31 of which were earmarked for closure under a company voluntary arrangement (CVA). However the CVA no longer stands under the administration deal and Ashley said: “We will do our best to keep as many stores open as possible.”

Research from The Local Data Company outlines that vast majority of locations with a House of Fraser also has a Sports Direct store, which may offer some room for consolidation. The 54 locations where the stores would be competing are listed below.

There are also 34 towns with both a House of Fraser and department store rival Debenhams, in which Ashley also owns a 30% stake.

“My ambition is to transform House of Fraser into Harrods of the High Street,” said Ashley.

“This is a massive step forward and further enhances our strategy of elevation across the group. This will benefit both House of Fraser and Flannels in the luxury sector,” he added.

The locations with both a Sports Direct and a House of Fraser (source, Local Data Company)

 

Aberdeen

Altrincham

Aylesbury

Bath

Birkenhead

Birmingham

Bournemouth

Bristol

Burton Upon Trent

Camberley

Cardiff

Carlisle

Cheltenham

Chichester

Cirencester

Croydon

Cwmbran

Darlington

Doncaster

Edinburgh

Epsom

Exeter

Gateshead

Glasgow

Grays

Grimsby

Guildford

High Wycombe

Huddersfield

Hull

Leamington Spa

Leeds

Leicester

Lincoln

Liverpool

London

Maidstone

Manchester

Middlesbrough

Milton Keynes

Northampton

Norwich

Nottingham

Plymouth

Reading

Sheffield

Shrewsbury

Skipton

Solihull

Sutton Coldfield

Swindon

Telford

Wolverhampton

Worcester

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