The House of Fraser store in The Brunel Shopping Centre in Swindon is to remain open, following the conclusion of negotiations between asset manager FI Real Estate Management (FIREM) and new owner Sports Direct.
FIREM has been working closely with Sports Direct since it announced the store’s closure in September and their joint determination to agree a deal has resulted in revised terms being agreed that will allow the store to maintain its presence. The House of Fraser store is viewed as a vital component of the town’s high street offering and the deal will safeguard jobs that had been placed at risk.
A spokesperson for FI Real Estate Management said: “There has been understandable concern about the future of House of Fraser and we are delighted to have agreed commercially viable terms that permit its continued presence at the Brunel. The determination of both parties to secure agreeable terms was fuelled by the knowledge of how pivotal this store is to the local economy and the people who live and work here. We look forward to working with the new management team to ensure the future success of the store.”