Birmingham's famous House of Fraser store will definitely close, it has been confirmed today.

Creditors have agreed a company voluntary arrangement (CVA) with the retail group which will see a total of 31 outlets shut and the loss of 2,000 jobs at its stores and a further 4,000 across brands and concessions.

There will also be rent reductions on a further ten shops that it plans to keep.

Among the list of others West Midlands stores set to close is Wolverhampton's famous Beatties store and House of Fraser in Telford, Shrewsbury and Worcester.

Birmingham's House of Fraser, in Corporation Street, is due to shut in early 2019 as will the other 30 identified for closure.

This latest development confirms the announcement made earlier this month by House of Fraser that it was seeking a new deal with creditors which would allow the company to refinance and complete a buyout deal with Chinese suitor C.Banner.

House of Fraser in Birmingham will shut in early 2019
House of Fraser in Birmingham will shut in early 2019

House of Fraser secured the required backing of at least 75 per cent of its creditors for the CVA to be approved.

New parent company C.Banner, which also owns toy store chain Hamleys, is buying a 51 per cent stake in House of Fraser and injecting £70 million in new capital into the business.

Landlords have previously hit out at the CVA, complaining they are being forced to stomach a financial hit at the same time as House of Fraser enjoys new investment.

Frank Slevin, chairman of House of Fraser, said: "The approval of the CVAs is a seminal moment in House of Fraser's history.

"We must now continue with the implementation of our restructuring plan.

"This is also an important milestone in the transaction with C.banner and moves us toward the completion of the capital injection first announced in May."

Chief executive Alex Williamson added: "The CVA 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."

Shopping

The full list of House of Fraser and Beatties stores identified for closure is:

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 and Worcester.