Frasers Group Shuts Down Two More House of Fraser Locations

  • House of Fraser to close two more stores
  • Parent company Frasers Group prioritizing Sports Direct and Flannels
  • Solihull store closing on 28 August, Guildford store on 30 September
  • Total UK stores now at 31 after eight closures in the year to 30 April
  • Brand has been cutting store numbers since being rescued from administration in 2018

House of Fraser is shutting down two more stores as its parent company, Frasers Group, focuses on expanding Sports Direct and Flannels. The Solihull store will close on August 28th and the Guildford location will shutter on September 30th. Since being rescued from administration in August 2018, House of Fraser has been reducing its physical store count; it now operates 31 stores in the UK after closing eight locations in the year to April 30th. CEO Michael Murray stated last month that the portfolio is under constant review and some outlets are too large. A spokesperson for Frasers Group expressed gratitude to staff for their dedication and commitment, stating they will try to find new roles within the group for employees where possible.

Factuality Level: 10
Factuality Justification: The article provides accurate information about House of Fraser’s store closures and the company’s decision-making process, with no signs of sensationalism or opinion masquerading as fact.
Noise Level: 3
Noise Justification: The article provides relevant information about House of Fraser closing two more stores and mentions that the parent company is focusing on other brands. However, it lacks in-depth analysis or exploration of long-term trends or consequences of these decisions.
Financial Relevance: Yes
Financial Markets Impacted: House of Fraser’s store closures impact its parent company Frasers Group and potentially related companies
Financial Rating Justification: The article discusses the closure of two House of Fraser stores, which is a part of Frasers Group, affecting the company’s retail operations and potentially impacting its financial performance.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text.

Reported publicly: www.retailsector.co.uk