Mike Ashley Blames ‘Greedy Landlords’ for Store Closures
- House of Fraser to close three more stores due to uncooperative landlords
- Mike Ashley unable to agree terms with some landlords for new rent deals
- 80% of House of Fraser stores planned to be saved, according to owner Mike Ashley
- Landlords asked for six months’ free rent in some cases
House of Fraser is set to close three more stores in Hull, Edinburgh, and Swindon due to disagreements with landlords over rental terms. Mike Ashley, the retailer’s owner, has already agreed new deals at 15 other locations previously marked for closure under a CVA (Company Voluntary Arrangement). He aims to save 80% of House of Fraser stores and has thanked cooperative landlords for saving around 3,500 jobs. However, he criticized some landlords for being ‘greedy’ and not agreeing to reasonable rental terms.
Factuality Level: 8
Factuality Justification: The article provides accurate information about the closure of three House of Fraser stores and Mike Ashley’s efforts to negotiate with landlords. It also mentions the progress made in agreeing new terms for other stores and the number of jobs saved. However, it includes a personal opinion from Mike Ashley regarding ‘greedy landlords,’ which is a slight bias.
Noise Level: 3
Noise Justification: The article provides relevant information about the closure of three House of Fraser stores and Mike Ashley’s efforts to negotiate with landlords. It also mentions the progress made in saving other stores and jobs. However, it could benefit from more analysis or context on the broader retail landscape and potential implications for the industry.
Financial Relevance: Yes
Financial Markets Impacted: House of Fraser’s store closures impact local economies and the retail sector
Financial Rating Justification: The article discusses House of Fraser’s store closures, which affects the company’s financial situation and has implications for the retail industry and local economies where the stores are located.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
