Department StoresHigh StreetM&A

Philip Day eyeing House of Fraser stores

Philip Day, the owner of Edinburgh Woollen Mill is reportedly in talks with landlord groups regarding a takeover of several House of Fraser stores.

Day is talking to 10 to 15 landlords with a view to running them as Days Department Stores according to Drapers.

Rents and leases on House of Fraser premises are currently up for negotiation, with no pre-agreed deals standing due to the company’s administration.

Sports Direct bought the retailer for £90m at the start of the week and appointed property agency CBRE to begin negotiations with landlords.

It is also thought that the Edinburgh Woolen Mill Group is prepared to pay higher rents than House of Fraser currently pays and is reportedly willing to acquire stores directly from landlords.

Back to top button

Please disable your ad-blocker to continue

Ads are the primary way in which publishers generate the revenue needed to pay their staff. If we can't serve ads, we can't pay journalists to write the news.