Intu House of Fraser stores to stay open in U-turn

Intu’s four House of Fraser stores will continue to trade after a new agreement on lease terms was reached. The retailer’s owner, Sports Direct, had broken off talks with the landlord last year over rent negotiations. The four stores – in Norwich, Nottingham, the Metrocentre in Gateshead and Lakeside in Essex – were earmarked for closure by Sports Direct in early 2019. Mike Murray, head of elevation at Sports Direct, said: “After the stalled talks with intu we are happy to announce that we have come to an agreement that will help secure the future of House of Fraser intu stores in Norwich, Metrocentre, Lakeside and Nottingham. “This is great news for over 1,000 employees, whose jobs have now been saved. We would like to thank intu and all of our colleagues for their hard work and patience throughout the past five months. “This shows further commitment to the high street and the turnaround of House of Fraser.” James Keany of CBRE advised House of Fraser. To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette Image: Image: Stephen Chung/Lnp/REX/Shutterstock