Department store group plans to expand its presence in Scotland
House of Fraser is in advanced negotiations to buy Edinburgh-based department store business Jenners (pictured). The retailer has a site on Princes Street in the Scottish capital, one of the many contenders for the title of the world's oldest independent department store.

It also operates outlets in Glasgow and Edinburgh airports and Loch Lomond Shores. The stores would continue to operate under the Jenners name. House of Fraser said that, should the acquisition go ahead, it would continue to operate its own Edinburgh store alongside the Jenners store on Princes Street.

The announcement comes a day before the retailer files its preliminary end-of-year financial report. Analysts forecast that House of Fraser will show like-for-like sales decreasing by 2 per cent to 3 per cent. However, store openings are expected to boost total sales. The retailer's deal with Barclaycard to retain 50 per cent of the profits on its store card is also expected to boost figures. Property sales in the past 12 months will also reduce the retailer's net debt to between£35 million and£40 million.

Topics