The House of Fraser store on Deansgate that had been due to close after Xmas has been saved after The Company renegotiated the leasing term with The landlords.

The store, known to Mancunians as Kendals faved closure after the newly taken over store failed to come to an agreement moving forward over revised rents after its new owner Mike Ashley’s Sports Direct attempted to renegotiate as it looked to save costs.

Manchester City Council have played a role in the negotiations between the two parties securing over 500 jobs

Sir Richard Leese, Leader of Manchester City Council, said: “Today’s announcement is fantastic news for the city and I am proud that the council has been able to play a constructive role in saving a real Manchester icon and hundreds of jobs. I’d like to thank all involved for their positive engagement in this process.”

Mike Ashley commented: “This demonstrates that when landlords, local authorities and retailers work together the outcomes can be outstanding. When working together we can make a real difference to the high street.”

Ram Rasiah of CBRE, who represented House of Fraser, said: “This is a significant deal for Manchester and we are delighted to have agreed for Kendals to remain open.”

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