Dublin store set to survive as House of Fraser plans to close 31 UK stores

More than half of the company's stores in the UK have been earmarked for potential closure

Dublin store set to survive as House of Fraser plans to close 31 UK stores

File photo dated 07/01/18 of the Oxford Street, London branch of House of Fraser which is one of those expected to close. Picture by: Dominic Lipinski/PA Wire/PA Images

House of Fraser's store in Dundrum shopping centre is set to survive plans by the company to close more than half of its stores.

31 of the retailer's 59 stores across the UK are earmarked for potential closure.

Stores included on the list of possible closures include ones in Edinburgh and London's Oxford Street.

If the plans go ahead, 6,000 jobs could be affected.

Dundrum is the company's only store in the Republic, alongside a store in Belfast - with the Northern Ireland store also not listed as one of the potential closures.

House of Fraser is working to raise around €79 million as it launches a rescue plan.

China's C.banner International Holdings has agreed to acquire a 51% stake in House of Fraser and pump in 'significant new capital' if the retailer restructures its operations.

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."

He added: "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."

House of Fraser will seek approval from creditors to implement its closure plans later this month, with the stores proposed for closure set to remain open until early 2019.