By Hugh Radojev2019-05-13T06:12:00
Mike Ashley has pledged to invest hundreds of millions of pounds into House of Fraser in exchange for three-year rent holidays on the redeveloped stores.
The Sports Direct tycoon plans to open 31 rebranded “Frasers” stores over the next five years, as he bids to make the department store chain he bought out of administration in August for £90m more “upmarket”.
In exchange for investing in the stores, Ashley hopes to secure a three-year rent-free period from landlords, according to The Sunday Times.
The refurbished Frasers stores will stock high-end brands such as Gucci and Paul Smith.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.