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01.12 - 11:39
House of Fraser to close London flagship store in January
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House of Fraser is to close its flagship store on London’s Oxford Street in January, in the latest blow to the UK’s prime high street.
The department store chain, which is owned by Mike Ashley’s Frasers Group, said it was being forced to exit the building after being served notice by its landlord.
The announcement comes just days after the building’s owners, understood to be the German Conle family, won planning permission to redevelop the site into six floors of offices with retail on the ground floor, a pool and gym in the basement, and a rooftop restaurant. Work is understood to have already begun on the project, which is expected to take two years.
The changes mark the latest shift away from retail on Oxford Street after Marks & Spencer
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