The announcement comes less than a week after a stormy AGM for the troubled retailer, and House of Fraser's recent announcement that it is leaving Regent Street. The department store chain has assigned contracts on the lease of its Dickins & Jones store with a joint venture company formed by Shearer Property Group in partnership with Delancey Estates.
Both companies blamed high rents for closing operations on the famous London shopping street, with Laura Ashley citing a 19 per cent rise. The retailer retains a store on nearby Oxford Street.
Dickins & Jones, which has been on Regent Street for 170 years, will continue to trade until January, when site will be redeveloped.