House of Fraser to close 31 store, leaving 6,000 jobs in jeopardy

On another bruising day for Britain’s retail sector, five thousand jobs are at risk at Poundworld as the company prepares to appoint administrators. Six thousand more could be in jeopardy at House of Fraser, which is closing more than half its stores around the country.

That includes its flagship branch in London’s Oxford Street – leaving staff in shock after they were given the news at a meeting this morning. The company chairman said the retail industry was going through “fundamental change” – and urgently needed to adapt.