Money - a major high street department store is closing shops as sales continue to take a hit house of fraser is set to shut .. Major high street department store closing shops – is one near you going for good? , Now to the details.
A MAJOR high street department store is closing shops as sales continue to take a hit.
House of Fraser is set to shut up shop in two more locations as it battles to keep a presence in the retail sector.LNPIt comes as several major retailers have been forced to close shops in recent weeks[/caption]
The department store will close its Cardiff branch in the iconic Howells building after it recently launched a major clearance sale.
But the exact date remains unclear and Frasers Group wouldn’t confirm it.
It follows a string of House of Fraser closures in recent months.
The retailer shut its Westfield outlet last November and closed a further department store in High Wycombe in January.
House of Fraser has also temporarily closed its Norwich store which it plans to reopen in the autumn following its refurbishment.
And now the Birmingham department store is following a similar trajectory to those that shut.
House of Fraser has shrunk the city-centre store and turned it into an outlet whilst slashing the prices of all stock with messaging that reads “all stock must go.”
These big sale events usually precede a store closing down but no final decision has been made on its future as of yet.
House of Fraser was saved from collapse by billionaire businessman Mike Ashley back in 2018.
But while the deal saved the chain’s 59 stores and 17,000 workers who were facing the axe.
Many more stores have closed in recent years and only 30 department stores remain.
It comes as other retailers have struggled to compete with online shops and other big brands.
Just this week, clothing store M&Co announced it would be shutting all 170 of its stores this year.
The company fell into administration in December and was bought by Yours Clothing.
But only the M&Co branding was purchased – meaning the shops have not been saved.
Another popular high street store H&M also revealed it would be closing several branches.
H&M confirmed to The Sun that two branches in Hartlepool and Isle of Wight are set to close.
It hasn’t given a date for when they will shut the doors for good or if workers are at risk of redundancy.
It comes just days after the high street shop shuttered its branch in Burton and another in Maidenhead.
New Look has also brought the shutters down on three of its stores in recent weeks.
Its owner Sainsbury’s also revealed that Lloyd’s Pharmacy is withdrawing its services from over 200 Sainsbury’s stores.
Meanwhile, stationery chain Paperchase has said it’s in talks with potential buyers after lining up administrators.
Major burger chain Byron Burger also recently fell into administration and is set to close nine restaurants immediately.
The owners of the chain have said the closures will result in the loss of 218 jobs.
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