This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.theguardian.com/business/2018/oct/12/sports-direct-to-turn-glasgow-frasers-into-harrods-of-the-north
The article has changed 5 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Sports Direct to turn Glasgow Frasers into 'Harrods of the north' | Sports Direct to turn Glasgow Frasers into 'Harrods of the north' |
| (35 minutes later) | |
| Sports Direct has vowed to create the “Harrods of the north” after clinching a £95m deal to buy Glasgow’s Frasers building in a move that saves 800 jobs. | Sports Direct has vowed to create the “Harrods of the north” after clinching a £95m deal to buy Glasgow’s Frasers building in a move that saves 800 jobs. |
| The retailer said it will continue to operate the 350,000 sq ft site as Frasers and will invest in the property to “further elevate and enhance this iconic department store”. | The retailer said it will continue to operate the 350,000 sq ft site as Frasers and will invest in the property to “further elevate and enhance this iconic department store”. |
| Plans for the revamp are being driven by its House of Fraser brand, which was bought by Sports Direct after collapsing into administration in August. | Plans for the revamp are being driven by its House of Fraser brand, which was bought by Sports Direct after collapsing into administration in August. |
| The company said it is “great news” for the House of Fraser workforce, including the 800 in-store jobs it says have now been saved. | The company said it is “great news” for the House of Fraser workforce, including the 800 in-store jobs it says have now been saved. |
| The site is being bought through Glasgow city council, as the administering authority for the Strathclyde Pension Fund. The deal is set to be completed in January 2020. | |
| House of Fraser said the “Harrods of the north” vision would be realised with the store continuing to host luxury brand names including Hermes, Christian Louboutin, Prada and Gucci. | House of Fraser said the “Harrods of the north” vision would be realised with the store continuing to host luxury brand names including Hermes, Christian Louboutin, Prada and Gucci. |
| Michael Murray, the head of elevation at Sports Direct, said: “We are overwhelmed and proud to own such an iconic destination. Acquiring the freehold enables us to elevate and invest in the store in order to partner with a broad range of luxury brands in future. This is fantastic news for all parties.” | Michael Murray, the head of elevation at Sports Direct, said: “We are overwhelmed and proud to own such an iconic destination. Acquiring the freehold enables us to elevate and invest in the store in order to partner with a broad range of luxury brands in future. This is fantastic news for all parties.” |
| Susan Aitken, the leader of Glasgow city council, said: “A major investment on this kind of scale is a clear vote of confidence in Glasgow, and credit must also go to hundreds of Frasers staff who are absolutely integral to the business’s success and its enduring popularity with city shoppers. | Susan Aitken, the leader of Glasgow city council, said: “A major investment on this kind of scale is a clear vote of confidence in Glasgow, and credit must also go to hundreds of Frasers staff who are absolutely integral to the business’s success and its enduring popularity with city shoppers. |
| “With the future of this iconic retailer’s Glasgow presence secured, we look forward to the new owners building on its cherished relationship with shoppers and reputation as a valued city employer for almost 170 years.” | “With the future of this iconic retailer’s Glasgow presence secured, we look forward to the new owners building on its cherished relationship with shoppers and reputation as a valued city employer for almost 170 years.” |
| House of Fraser | House of Fraser |
| Sports Direct International | Sports Direct International |
| Mike Ashley | Mike Ashley |
| Glasgow | Glasgow |
| Retail industry | Retail industry |
| Scotland | Scotland |
| news | news |
| Share on Facebook | Share on Facebook |
| Share on Twitter | Share on Twitter |
| Share via Email | Share via Email |
| Share on LinkedIn | Share on LinkedIn |
| Share on Pinterest | Share on Pinterest |
| Share on Google+ | Share on Google+ |
| Share on WhatsApp | Share on WhatsApp |
| Share on Messenger | Share on Messenger |
| Reuse this content | Reuse this content |