Frasers Group has warned that more House of Fraser stores could be set to close. Chief executive Michael Murray said House of Fraser’s portfolio was “continually under review” and that some outlets were still “too big and we have to find solutions for the excess space”.
House of Fraser in Birmingham which was turned into an outlet store
The news comes after the business has suffered numerous store closures over the last few years with 8 in the last year alone.
The House of Fraser shops originally numbered 59 but this has tumbled to 31 since being bought out of administration in August 2018.
However new Frasers stores are set to launch within the next year include a revamp of an outlet in Norwich and a site in Blackpool. The Group has seen profits double of the year ending 30th April after an acquisition spree (adjusted pre-tax profit of £478.1m compared to £339.8m last year).
