Struggling department store House of Fraser has been given the green light from creditors to axe more than half of its stores, resulting in an estimated 6,000 job losses.
31 out of its 59 outlets will close their doors through a Company Voluntary Arrangement (CVA), which will also allow it to secure rent reductions on its remaining shops.
Closures will affect up to 2,000 House of Fraser staff and a further 4,000 across brands and concessions.
House of Fraser secured the backing of more than 75 per cent of creditors, including landlords, for the CVA at a meeting on Friday.
The full list of stores closing:
London Oxford Street
London King Willam Street
The full list of stores remaining open:
Loch Lomond Shores (Jenners)
Reading (The Oracle)
West Thurrock Lakeside
House of Fraser said the shops earmarked for closure, including its Oxford Street store, would remain open until early 2019.
The company CEO Alex Williamson warned that the store closures and job losses represented the “last viable” option to save the retailer, with the group at risk of collapse had the CVA been rejected.