Edinburgh House of Fraser store to close

The Edinburgh closure was announced as the major high street retailer unveiled plans to shut 31 stores across the UK as part of restructuring plans.

The announcement also included confirmation that the flagship store in Glasgow’s Buchanan Street, as well as the Jenners stores in Edinburgh’s Princes Street and Loch Lomond Shores, along with the Highland House of Fraser in Inverness, will survive the cull.

The Edinburgh store which sits at the corner of 146 Princes Street and 3 Hope Street in Edinburgh became a House of Fraser store in 1953 after the building was acquired from the Binns Group.

At the time it comprised of 50 departments over seven floors and spanned more than 69,000 sq ft of prime retail space on one of the country’s most recognisable thoroughfares.

In January, property developers Parabola snapped up the building for a price “significantly in excess” of its £13.7 million price tag.

Prior to the sale it had been highlighted that the prime location at the west end of Princes Street could be transformed from a retail business into a flagship hotel.

Edinburgh-based Parabola’s swoop came months after it unveiled plans for a new £500 million “urban quarter” on the outskirts of the capital.

House of Fraser bosses said the store would be closed early next year.

The company said it also intends to relocate its Granite House office in Glasgow to a new more cost-effective location.

House of Fraser said it had already informed members of staff impacted by the closure of the store.

The retailer, which has a history stretching back almost 170 years, is among the country’s best-known fashion brands.

It was started by Hugh Fraser and James Arthur in Glasgow as a single drapery shop in 1849 before eventually becoming House of Fraser in 1941.

Chief executive Alex Williamson said: “Today’s announcement is one of the most important in this company’s 169-year history.

“We, as a management team, have a responsibility to take necessary steps to ensure House of Fraser’s survival, which is why we are making these proposals.

“We are fully committed to supporting those personally affected by the proposals.”

Creditors are due to vote on the insolvency plan on 22 June.