House of Fraser Asks for Support of Landlord to Reduce Rents

By Simeon87 (Own work) [CC BY-SA 4.0] via Wikimedia Commons

House of Fraser, a department store in the United Kingdom has requested its landlords for “support,” appealing to them to cut rents at some of its stores.

Last night, it was first reported by Sky News and was later confirmed by the high street stalwart. The news suggests that the House of Fraser may have had a tough time during the pivotal Christmas trading period.

House of Fraser is scheduled to reveal its Christmas trading figures on the 11th of January.

The struggles come as a young blow to the British high street after Debenhams disappointed this week, announcing a profit warning because of poor festive trading.

The Guardian reported that the House of Fraser was exploring to close a third of its 59 stores over the next ten years.

A spokesperson for the House of Fraser stated: “We can confirm that we have contacted some of our landlords asking for their support as we drive forward with our transformation programme.”