British department store chain House of Fraser (London) will close its flagship store on London’s Oxford Street in January 2022, reports The Guardian. The retailer is reportedly being forced to move out of the building by its landlord.
“Since acquiring [House of Fraser] in 2018, despite challenges faced, we have worked collaboratively with the landlord to keep the store trading three years longer than what was initially proposed by the previous owner,” said a Frasers spokesperson.
The building’s owners received approval to redevelop the site into six floors of office space with retail at street level, a pool and gym in the basement and a restaurant on its rooftop. House of Fraser may open a smaller location in the building once the redevelopment project is completed.