Landlord Dispute Leads to Permanent Closure of Historic Scottish Retailer
- Frasers Group to close Edinburgh’s iconic Jenners store
- 200 jobs at risk due to closure
- Negotiations with landlord Anders Povlsen failed
- Store set to close on May 3, 2021
Frasers Group has announced the permanent closure of Edinburgh’s iconic Jenners store after failing to reach an agreement with landlord Anders Povlsen. The decision comes following unsuccessful negotiations with the building owner, who also owns international retail chain Bestseller and holds a significant stake in ASOS. Jenners, located on Princes Street, has been a staple of Edinburgh’s retail scene for 180 years. Despite the global pandemic and multiple lockdowns affecting British retail, Frasers Group maintains its commitment to its strategy but emphasizes the need for landlords and retailers to work together fairly. The store is set to close on May 3, 2021, resulting in the loss of 200 jobs.
Factuality Level: 8
Factuality Justification: The article provides accurate information about the closure of Jenners store, the reason behind it, and the impact on jobs. It also gives relevant background information about the ownership history and current situation of House of Fraser.
Noise Level: 3
Noise Justification: The article provides relevant information about the closure of Jenners store and its impact on jobs, but lacks analysis or exploration of broader trends or consequences.
Financial Relevance: Yes
Financial Markets Impacted: Frasers Group, House of Fraser, and potentially other retail companies
Financial Rating Justification: The article discusses the closure of a department store, which affects the financial situation of Frasers Group and House of Fraser, as well as potentially impacting other retail companies in similar situations.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.
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