House of Fraser is planning to reduce the size of its UK property footprint by 30% over 10 years.
The department store group, which was bought by China’s Sanpower in 2014, is planning to shave off surplus space such as basement or top floors in its 59 UK stores, according to The Guardian.
It is understood the group does not intend to close individual stores, except for the two that closed last year in Leicester and Aylesbury, Buckinghamshire.
Separately, the company has contacted a number of landlords asking for substantial rent reductions, according to Sky News.
An HoF spokesman said: “We can confirm that we have contacted some of our landlords asking for their support as we drive forward with our transformation programme.”
HoF is expected to publish details of its Christmas trading performance this week.
Alex Williamson, former chief executive of the Goodwood Estate, took over as chief executive of House of Fraser at the end of July 2017.
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