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House of Fraser store in Telford Centre reprieved, saving 150 jobs

Mike Ashley’s Sports Direct has been negotiating with landlords over rent agreements.

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House of Fraser was bought out of administration by Sports Direct (PA)

House of Fraser was bought out of administration by Sports Direct (PA)

House of Fraser was bought out of administration by Sports Direct (PA)

House of Fraser’s store in the Telford Centre is to stay open under a deal secured by the retailer’s new owner, Sports Direct.

The agreement will save 150 jobs at the Shropshire shopping centre store, which had been earmarked for closure by House of Fraser’s former management team.

Mike Ashley, founder and chief executive of Sports Direct, has pledged to save around 47 of House of Fraser’s 59 outlets since buying the department store out of administration for £90 million.

The sportswear tycoon also recently struck a deal to save House of Fraser’s flagship store in Oxford Street.

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Mike Ashley has pledged to turn House of Fraser into the ‘Harrods of the high street’ (Nick Ansell/PA)

Mike Ashley has pledged to turn House of Fraser into the ‘Harrods of the high street’ (Nick Ansell/PA)

PA Wire/PA Images

Mike Ashley has pledged to turn House of Fraser into the ‘Harrods of the high street’ (Nick Ansell/PA)

James Keany, head of national agency at CBRE, said: “This is another example of what can be achieved when landlords work with us to ensure we deliver on the House of Fraser rescue plan.”

The Telford Centre is undergoing a £55 million redevelopment, due to finish next spring.

Mr Ashley, who also owns Newcastle United, has pledged to turn House of Fraser into the “Harrods of the high street” by bringing in more high-end brands.

There is also speculation that he will start introducing his other brands, such as Flannels and Sports Direct, into House of Fraser stores.

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