Jul 30, 2018
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Fashion Collective eyes House of Fraser store in the City

Jul 30, 2018

A new company called Fashion Collective has made an ‘audacious’ takeover approach for House of Fraser’s branch in the City to create an upmarket fashion store mixing both emerging designers and established names.

The retail unit on King William Street is one of 31 House of Fraser locations due to close next year under the department store’s company voluntary agreement.

But Fashion Collective’s project has been turned down by the landlord, who has opted to wait and see how the uncertain retail property market develops, reported City AM on Monday.

Fashion Collective planned to open a high-end destination complete with men’s and women’s hair salons and a champagne bar.

Paul McKie, a director of the company, said he was disappointed about the decision made by landlord King William St Ltd. “We were led to believe it was the sort of proposal that the landlords were looking for and then it just stopped,” he told City AM.

Fashion Collective had hoped to save the jobs of several concession workers at the store after the departure of House of Fraser next year. It remains uncertain whether the company will continue to search for a unit elsewhere.

Adding further uncertainty is House of Fraser’s own problems. The premium department store is facing a legal action filed earlier this month by landlords, who claim its CVA process is treating them unfairly. This has prompted Chinese investor C.banner to delay a much-needed £70 million cash injection it had promised to help the company gain more stability.

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