A question mark hangs over the future of some of the UK's best-known department stores.

House of Fraser, which owns the famous Cavendish House store in the Promenade, Cheltenham and a store in Market Place, Cirencester, is being restructured.

Hamleys Chinese owners, C.banner, is taking a 51 per cent stake in House of Fraser from another Chinese firm, Nanjing Cenbest.

House of Fraser is being restructured under a company voluntary arrangement (CVA) which is expected to result in the closure of some of its 59 stores in the UK and Ireland. It is not known which stores will be affected.

House of Fraser employs more than 6,000 employees with a further 11,500 concession staff.

Commenting on the news Frank Slevin, chairman of House of Fraser, said: "C.banner's acquisition of 51 per cent of House of Fraser, together with the new capital and restructuring, represents a step to securing House of Fraser's long-term future.

"With the support of Nanjing Cenbest and Sanpower, Alex Williamson and his team have made substantial progress on our transformation journey. However, we need to go further and faster if we are to confront the seismic shifts in the retail industry.

"There is a need to create a leaner business that better serves the rapidly changing behaviours of a customer base. House of Fraser's future will depend on creating the right portfolio of stores that are the right size and in the right location.

"C.banner's investment is a vote of confidence in our prospects. We also know that if we are to deliver a sustainable, long-term business then we need to make difficult decisions about our underperforming legacy stores.

"I am all too aware that this creates uncertainty for my colleagues in the business and so we will be transparent with them throughout the process. These measures are essential to ensure that House of Fraser remains an iconic department store group for many years to come."

Picture credit: Imagery ©2018 Google maps, Map data ©2018 Google