Sports Direct has acquired the iconic Frasers building from Glasgow City Council for £95m, saving 800 in-store jobs for the House of Fraser workforce.
The flagship store on Buchanan Street, obtained through the House of Fraser brand, will continue to operate as Frasers, as the company plans to “further elevate and enhance” the department store.
The retailer said it would transform the shop into the “Harrods of the North”. The deal is expected to be completed by January 2020.
Sports Direct bought House of Fraser for £90m in August after it collapsed into administration, and promptly scrapped plans to close 31 of the company’s 59 stores.
After negotiations with landlords a total of 20 stores that…