Nottingham’s House of Fraser store has been saved by a last-minute deal struck between Sports Direct and Victoria Centre owners Intu.
The store was due to close this month after talks believed to be centred on rent failed following the flagging chain’s takeover by Sports Direct.
But on Tuesday (January 22) Sports Direct announced a deal had now been agreed, meaning Nottingham and other stores in Norwich, Gateshead and Lakeside in Essex will stay open.
Mike Murray, head of elevation at Sports Direct, said: “After the stalled talks with intu we are happy to announce that we have come to an agreement that will help secure the future of House of Fraser intu stores in Norwich, Metro Centre, Lakeside and Nottingham.
“This is great news for over a thousand employees whose jobs have now been saved.
“We would like to thank intu and all of our colleagues for their hard work and patience throughout the past five months. This shows further commitment to the high street and the turnaround of House of Fraser.”
Sports Direct, run by retail mogul Mike Ashley, bought the department store chain in August and initially cancelled a closure programme proposed by the previous management, then opened talks with landlords around the country over rent.
The Victoria Centre’s House of Fraser unit, which also has a frontage on Mansfield Road, is one of the largest single tenant spaces inside the centre and is considered a flagship site.
Nigel Wheatley, general manager of the centre, said: “We confirm that following constructive discussions with SportsDirect, we have reached an interim agreement on four House of Fraser stores at intu Chapelfield, intu Lakeside, intu Metrocentre and intu Victoria Centre.”