A HUGE fashion retailer is set to shut yet another store following a string of closures.
House of Fraser has revealed it will pull down the shutters on yet another high-street next month.
1
They will leave The Oracle shopping centre in Reading town centre on October 29.
The clothing store has occupied its space in The Oracle since it opened in 1999.
House of Fraser was saved from collapse by billionaire businessman Mike Ashley back in 2018.
But while the deal saved the chain’s 59 stores and 17,000 workers who were facing the axe, a number of its stores have closed in recent years.
There are now only 30 department stores left in the UK.
It comes after its store in Solihull will closed on August 28, while its branch in Guildford will shut on Saturday, September 30.
In February, the chain turned its store in Birmingham into an outlet and closed its iconic store in the Howells building in Cardiff.
In January, it closed its department store in High Wycombe, two months after its store in Westfield Shepherd’s Bush closed for the last time.
Most read in Money
A Frasers Group spokesperson said earlier this year: “We are big believers in the British High Street.
“When we bought House of Fraser out of administration in 2019, we knew we would have to make some tough decisions to secure its long-term, sustainable future.
“Whilst a number of House of Fraser stores are closing, we are also investing heavily in many others across the UK and by the end of this year will have opened over 10 Frasers stores since acquiring the business.”
It comes as Wilko stores will become a distant memory on the high street after 93 years.
The retailer fell into administration on August 10 before a flurry of potential buyers expressed an interest.
Soaring inflation has left shoppers strapped for cash, and retailers are struggling to get customers to part with their hard-earned money.
High energy costs and a shift to online shopping are also taking a toll and many brands just haven’t been able to keep going.
