AILING retailer House of Fraser has announced plans to shut 31 of its 59 stores across the UK and Ireland.
The rescue deal will impact around 6,000 jobs.
As part of the CVA process, House of Fraser also plans to relocate its Baker Street head office and Granite House office in Glasgow to new locations to help cut costs.
The retail giant began with a single drapery shop, opened in Glasgow by Hugh Fraser and James Arthur in 1849.
The company said it expects stores that are scheduled for closure to remain open until early 2019.
Frank Slevin, chairman of House of Fraser, said: "The retail industry is undergoing fundamental change and House of Fraser urgently needs to adapt to this fast-changing landscape in order to give it a future and allow it to thrive.
"Our legacy store estate has created an unsustainable cost base, which without restructuring, presents an existential threat to the business.
"So whilst closing stores is a very difficult decision, especially given the length of relationship House of Fraser has with all its locations, there should be no doubt that it is absolutely necessary if we are to continue to trade and be competitive."
The stores earmarked for closure are:
- Altrincham
- Aylesbury
- Birkenhead
- Birmingham
- Bournemouth
- Camberley
- Cardiff
- Carlisle
- Chichester
- Cirencester
- Cwmbran
- Darlington
- Doncaster
- Edinburgh Frasers
- Epsom
- Grimsby
- High Wycombe
- Hull, Leamington Spa
- Lincoln
- London Oxford Street
- London King Willam Street
- Middlesbrough
- Milton Keynes
- Plymouth
- Shrewsbury
- Skipton
- Swindon
- Telford
- Wolverhampton
- Worcester
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