New threat to Cavendish House as House of Fraser closures go ahead?
By Sarah Wood | 6th August 2018
House of Fraser has got the go-ahead to close 31 of its 59 stores, including its Cirencester branch . The closures will put thousands of jobs at risk nationally.
The company has been looking for investors to help it survive, as reported by the BBC. Mike Ashley of Sports Direct owns an 11 per cent stake in the chain, but hasn't yet offered further support. It's thought that without urgent help, House of Fraser could be on the brink of administration.
Currently, Cavendish House is set to stay open, but it the future isn't looking great for Cheltenham's iconic department store.
After 169 years, House of Fraser is threatened by the rise of internet buying and declining footfalls.
The Chinese owned group employs 17,500 people.
Punchline said: "We're really worried about jobs at Cavendish House. Unfortunately it has become one of those shops that we all love, but none of us actually shop in. With the imminent opening of John Lewis, things are only going to get tougher for Cavendish House."
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