'˜No agreement yet' on Chichester's House of Fraser

The landlord of Chichester's House of Fraser has confirmed he has not yet reached an agreement with the chain's new owners as to the future of the store.

Tuesday, 25th September 2018, 12:22 pm
Updated Tuesday, 25th September 2018, 12:23 pm
House of Fraser in Chichester

The city’s store was one of 31 listed for closure earlier this year in an attempt to stabilise the department chain’s finances before it went into liquidation.

To date, the brand’s new owner, Sports Direct’s Mike Ashley, has reportedly negotiated deals to keep open 20 of the brand’s 59 stores, with four stores now definitely set for closure.

Chichester’s House of Fraser site in West Street is owned by The Charities Property Fund, which is managed by Harry Foster from Savills Investment Management.

Mr Foster told the Observer: “We are still yet to receive a longer term proposal from Sports Direct despite their numerous press releases.

“The only offers we have received so far are for six month and 12 month terms only at significantly reduced rents.

“We don’t think this takes anyone any further forward and does not give the city, the staff or our investors any certainty, so as yet we have been unable to come to any agreement.”