THE READING branch of House of Fraser appears to be safe after the company announced 31 stores would be closing.
The struggling department store could be forced to axe as many as 6,000 jobs as part of the restructure.
The move has been taken to give the chain a 'more sustainable cost base' and 'a platform for future growth' with the flagship Oxford Street store in London also set to stay open.
Alex Williamson, CEO of House of Fraser, said: “The Company Voluntary Arrangement proposals have been approved by our creditors and we are grateful for their ongoing support and belief in the future of House of Fraser.
"This was clearly a difficult decision to take but is, ultimately, the only one to secure our future.
"Our focus is on supporting all of our affected colleagues and we are exploring every opportunity available to them working alongside the Retail Trust and the wider retail community.”
House of Fraser stores identified for closure under the CVA proposals include: Altrincham, Aylesbury, Birkenhead, Birmingham, Bournemouth, Camberley, Cardiff, Carlisle, Chichester, Cirencester, Cwmbran, Darlington, Doncaster, Edinburgh Frasers, Epsom, Grimsby, High Wycombe, Hull, Leamington Spa, Lincoln, London Oxford Street, London King William Street, Middlesbrough, Milton Keynes, Plymouth, Shrewsbury, Skipton, Swindon, Telford, Wolverhampton, Worcester.
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