Edinburgh department store Jenners, owned by Mike Ashley’s Frasers Group, is to shut after almost two centuries of trading.

The Princes Street shop will close in May with the loss of 200 jobs.

Frasers announced its intention to shut Jenners after failing to reach an agreement about the tenancy with landlord Anders Holch Povlsen who is also the owner of international fashion retailer Bestseller and a shareholder in Asos.

A Frasers spokesperson said: “Despite the global pandemic, numerous lockdowns and the turbulence caused for British retail, the landlord hasn’t been able to work mutually on a fair agreement, therefore, resulting in the loss of 200 jobs and a vacant site for the foreseeable future with no immediate plans.

“Our commitment to our Frasers strategy remains but landlords and retailers need to work together in a fair manner, especially when all stores are closed.”

Department store groups have been hit hard by the pandemic and lockdown trading restrictions. Frasers’ rival Debenhams went into liquidation last month and this week Debenhams’ brand and website were bought by pureplay Boohoo – but all 118 of its stores will close with the loss of 12,000 jobs.

Povlsen bought the Jenners building in 2017 for a reported £50m and planned to turn part of it into a hotel but retain a department store presence.