Reaction to House of Fraser store closures
Thursday 7th June 2018
House of Fraser announced plans on Thursday to shut 31 stores across the UK in a move which is set to mean 6,000 jobs workers could lose their jobs. Our head of retail, Andy Brian, was quoted in the national and trade press reacting to the news. He said:
“It’s no coincidence that many of the more ‘traditional’ high street names are struggling. These are incredibly challenging times for retailers with pressures such as rising import prices, business rates and the costs of trying to keep up with online competitors all combining to squeeze margins, particularly for the likes of House of Fraser (and recently BHS and Debenhams) which have historically relied heavily on their bricks and mortar presence.
“Only the most innovative retailers will thrive in this climate. That means finding bold new ways to combine an effective online offering with a compelling in-store experience, and then being brave enough to implement it, fast. It remains to be seen whether this is the first step towards House of Fraser doing just that.”