- Huw Hughes |
Frasers Group is to close its iconic 180-year old Jenners department store on Princes Street in Edinburgh, resulting in around 200 redundancies.
The store will close on 3 May, with new renovation plans for the space thought to include a hotel, cafés and rooftop bar and restaurant.
It comes after Frasers failed to agree on a deal to extend its tenancy with the site's owner, Danish billionaire and owner of Bestseller, Anders Povlsen.
“Despite the global pandemic, numerous lockdowns and the turbulence caused for British retail, the landlord hasn't been able to work mutually on a fair agreement, therefore, resulting in the loss of 200 jobs and a vacant site for the foreseeable future with no immediate plans,” Frasers said in a statement.
“Our commitment to our Frasers strategy remains but landlords and retailers need to work together in a fair manner, especially when all stores are closed,” it added.
It comes on the same day department store chain Debenhams was acquired by fast-fashion giant Boohoo for 55 million pounds. The deal includes the brand and website of the high street stalwart, but not its store network.