HOUSE of Fraser's flagship store on Oxford St is set to permanently close, in another blow to the capital's shopping district.

Frasers Group said it had been served notice by the landlord to close the site after an application for planning permission to redevelop the site was given the green light.

A spokesperson for the group said it had "worked collaboratively with the landlord to keep the store trading three years longer than what was initially proposed."

The firm called for an urgent review of the "archaic" business rates, which it said were "astonishingly outdated."

Without a review, further store closures are "inevitable," it warned. The Oxford St site will close in January.

(c) 2021 City A.M., source Newspaper