I was pleased to hear the news last Friday that an agreeable rental deal has been reached to keep the iconic House of Fraser building open in Manchester. It was certainly a ray of light in a sector that has had and continues to have difficulties.
The start of the year was hampered in the retail sector after we experienced some heavy snow, this had a direct impact on the footfall in the shopping locations. However, I believe the World Cup and the Royal Wedding brought a boost to the sector, and many of us are now spending for Christmas in a few weeks' time.
It is clear the landscape of the retail sector is evolving and purchases are frequently being pushed online, this is having a direct impact on employee job losses in this sector in traditional roles.
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Sir Richard Leese, leader of Manchester City Council, said: "Today's announcement is fantastic news for the city." Financially troubled House of Fraser (HoF) was bought for £90m in August by Sports Direct owner Mike Ashley. The company said the deal had saved about 568 jobs and the future of one of the region's most recognisable department stores.