Lincoln’s House of Fraser has been saved from closure after new owner Mike Ashley did a last-minute deal to allow the stores to keep operating.
As previously reported, the stores in Lincoln and Grimsby, which were among 31 nationwide set to face the chop, were initially set to still close in January 2019 after the company reached a settlement with its landlords.
EY were appointed as administrators of the company before Mike Ashley’s Sports Direct bought the British department store for a reported £90 million.
The new proprietor hopes to save at least 80% of the stores, with 20 House of Fraser stores being saved, reportedly saving around 3,500 jobs.
The store in Grimsby is also now among the stores being saved.
Stores being saved:
- High Wycombe
- London Oxford Street
- Solihull and Sutton Coldfield
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