House of Fraser owner Frasers Group will close two more of its department stores over the next month as the retail titan continues to focus on its Sports Direct and Flannels flagships.
House of Fraser will close the doors to its store in Solihull on 28 August and its branch in Guildford on 30 September.
In the year to 30 April, Frasers has axed eight of its department store branches, taking the total number of stores to 31 across the UK.
It has almost halved in size from 59 stores since it was bought out of administration by Mike Ashley’s group back in August 2018.
The news comes almost two years after its former rival Debenhams left British high streets and moved exclusively online.
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Frasers Group boss Michael Murray warned last month that more of its department stores were set to close. He said that House of Fraser’s portfolio was “continually under review” and that some outlets were still “too big and we have to find solutions for the excess space”.
A spokeswoman for Frasers Group said: “It is with regret that we announce House of Fraser Solihull and Guildford are planned to close in the coming months.
“We would like to take this opportunity to thank our staff for their hard work and dedication. Where possible, we are committed to finding new roles within the group for all staff.”
Last month, Frasers Group saw its profits nearly double for the year ending April 30, as adjusted pre-tax profit came in at £478.1m, up from £339.8m last year, hitting the higher end of its forecast range which was between £450-500m.
The FTSE 100-listed firm founded by Mike Ashley expects profit to grow by at least 5% in the current financial year, with adjusted pre-tax profit in the range of £500m to £550m, representing “strong underlying trading profit progression”.
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