The House of Fraser (HoF) department store chain has confirmed that it is going to reduce rents on some of its stores.
The retailer confirmed that it had requeated some landlords for the cooperation and support.
This year’s Christmas was not so exciting for retail businesses and departmental stores. May be this is the reason why Retailers are changing thier way of operations.
House of Fraser is supposed to publish its Christmas trading figures next week. It has already closed its stores in Leicester and Aylesbury, Buckinghamshire, last year. Its rival chain of stores Debenhams also issued its profit figure this week showing the impact of dull christmas on their profits.
As per the news reported by The Guardian, HoF wanted to shorten the size of its 59 stores by removing top floors or basements.
House of Fraser was bought by Chinese firm Sanpower for £480m in 2014.