House of Fraser launch further

House of Fraser Loch Lomond

HOUSEHOLD of Fraser is to buy Jenners, the whole world's oldest independent emporium, for £46.1m, it said these days. Home of Fraser can also be accepting the Jenners pension scheme and will inject £3.4m involved with it when the deal is completed.

The acquisition can give House of Fraser the Jenners brand name, its flagship store in Edinburgh's Princes Street, and three other stores at Loch Lomond and Glasgow and Edinburgh Airports.

Jenners features 750 workers while the shops will continue to operate in Jenners name, stated home of Fraser.

The Edinburgh store at 48 Princes Street happens to be Jenners' leading since 1838 and contains significantly more than 100 divisions. It was produced by Charles Jenner and Charles Kennington, selling silks, shawls, ribbons and laces beneath the name of Kennington & Jenner. The Jenners package will increase House of Fraser's portfolio of shops to 52.

Home of Fraser had been established in Glasgow in 1849 and it has grown through the years through purchase of stores like Dickens & Jones, Rackhams, and Army & Navy.

The Fraser board stated the deal would enhance its place once the UNITED KINGDOM's leading store of fashion designer companies, complement home of Fraser's present Scottish stores in Glasgow and Edinburgh, and provide a chance to realise additional benefits from an already-profitable retail company.

John Coleman, chief executive of House of Fraser, stated: 'home of Fraser features a good Scottish history and recognises the landmark position of Jenners in addition to iconic condition that the title has actually in Scotland.

'The Princes Street shop will likely to be a valuable addition to accommodate of Fraser's existing store portfolio, alongside our existing store in Edinburgh at the opposite end of Princes Street. This transaction presents a thrilling chance of Jenners' workers into the enlarged group.'

Jenners handling director Robbie Douglas-Miller stated: 'The administrators of Jenners think the benefits of this package are significant to any or all functions. The popular title of Jenners goes forward, there are interesting possibilities for the staff of Jenners, and Edinburgh consistently have a premier department store operating on Princes Street.'

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