House of Fraser notifies Council of decision not to progress with store in Chester
|House of Fraser has today notified Cheshire West and Chester Council that it no longer plans to progress with a new store in Chester Northgate.|
The decision is part of a whole Company Voluntary Arrangement for House of Fraser which includes the closure of a large number of stores.
Councillor Samantha Dixon, Leader of the Council, said: "It is obviously disappointing that House of Fraser's financial problems have led to one of our tenants to change their decision to be part of the Chester Northgate scheme.
"Whilst we remain committed to regenerating the Northgate area of the city and to delivering a high quality scheme, clearly we will reflect on the impact of this announcement. We will continue to keep the mix and phasing of the scheme under review and continue to engage with interested parties as we have done all along.
"The Council's planning permission provides the flexibility for us to make changes in reaction to changes in the market in line with our prudent approach to development. The retail element of the scheme is scheduled to be delivered in the second phase of the development and so House of Fraser's decision at this point does not fundamentally undermine our ambition to see the comprehensive redevelopment of this vital part of the city."