Mike Ashley's Frasers to close Edinburgh store

LONDON (Reuters) - Mike Ashley's Frasers Group said on Monday it would close its House of Fraser store in Edinburgh in May, with the loss of 200 jobs, after failing to agree a deal with the site's owner to continue its tenancy.

"Despite the global pandemic, numerous lockdowns and the turbulence caused for British retail, the landlord hasn't been able to work mutually on a fair agreement, therefore, resulting in the loss of 200 jobs and a vacant site for the foreseeable future with no immediate plans," Frasers, formerly Sports Direct, said in a statement.

"Our commitment to our Frasers strategy remains but landlords and retailers need to work together in a fair manner, especially when all stores are closed," it said.

News of the store's closure came on the same day it was announced that all Debenhams department stores will close this year.

Online fashion retailer Boohoo has purchased the Debenhams brand but not the stores, meaning 12,000 jobs are set to be lost.

(Reporting by James Davey; Editing by Kate Holton)