Sports Direct has vowed to actualize the “Harrods of the North” afterwards absolute a £95m accord to buy Glasgow’s Frasers architecture in a move that saves 800 jobs.
The banker said it will abide to accomplish the 350,000sq ft armpit as Frasers and will advance in the acreage to “further drag and enhance this iconic administering store”.
Plans for its adapt are actuality apprenticed by its House of Fraser brand, which itself was bought by Sports Direct afterwards annoyed into administering in August.
The aggregation said it is “great news” for the House of Fraser workforce, including the 800 in-store jobs it says accept now been saved.
The armpit is actuality bought through Glasgow Burghal Council, which is the administering ascendancy for The Strathclyde Pension Fund.
The accord is set to be completed in January 2020.
‘We are afflicted and appreciative to own such an iconic destination’
House of Fraser said the “Harrods of the North” eyes would be realised with the armpit continuing to host affluence cast names including Hermes, Christian Louboutin, Prada and Gucci.
Michael Murray, arch of acclivity at Sports Direct, said: “We are afflicted and appreciative to own such an iconic destination.
“Acquiring the acreage enables us to drag and advance in the abundance in adjustment to accomplice with a ample ambit of affluence brands in future.
“This is absurd account for all parties.”
Susan Aitken, baton of Glasgow Burghal Council, said: “A above advance on this affectionate of calibration is a bright vote of aplomb in Glasgow, and acclaim charge additionally go to hundreds of Frasers agents who are actually basic to the business’s success and its constant acceptance with burghal shoppers.
“With the approaching of this iconic retailer’s Glasgow attendance secured, we attending advanced to the new owners architecture on its admired accord with shoppers and acceptability as a admired burghal employer for about 170 years.”
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