Jenners set to close after failing to strike lease deal

One of the most iconic names on Princes Street is set to go, with confirmation Jeeners will close in May.

The department store's owner Frasers Group plc has failed to reach an agreement with Anders Polvsen - who owns the famous building - to continue the company's lease.

Around 200 jobs are expected to be lost when the shop ceases trading on May 3.

Jenners has been a fixture on the Edinburgh shopping throughfare for 183 years, and was taken over by House of Fraser back in 2005.

A spokesman for Frasers said: "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.

"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.

"We would like to take this opportunity to thank our Jenners staff for their hard work and dedication."

In November 2019 Mr Polvsen, a billionaire who's originally from Denmark, announced plans to transform the building into a major tourist attraction.

Anders Krogh Vogdrup, director at Bestsellers, the company owned by Anders Polvsen, said: "We can confirm that Frasers Group has notified us that they will be exercising their break option, and so will be leaving the Jenners building.

"We have endeavoured to work with tenants during the pandemic and resulting lockdowns; offering rent-free periods, deferrals and payment plans, and encouraging our tenants to utilise Government-funded schemes to save costs and protect jobs.

"Despite the substantial rent reduction already granted to Frasers and rent-free periods to cover all lockdowns, Frasers has made the decision that it does not wish to continue in occupation.

"This will see the end of the 16-year association between House of Fraser and this building, but not of the 180 years of Jenners department store.

"We are in talks with retailer operators and are planning a programme of works to ensure that, when safe and able to do so, Jenners will reopen.

"Our primary goal is to see the department store returned it to its former glory; Jenners of Edinburgh is an institution and, despite the changing face of retail, it is our aspiration that Jenners will continue to be a retail store for as long as we are its stewards.''

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