House of Fraser has announced it is to buy department store Jenners for £46.1 million.
It is also assuming Jenners' pension scheme and will inject £3.4 million into it when the deal is completed.
The purchase will give House of Fraser the Jenners brand, its 167 year-old flagship store in Edinburgh's Princes Street and three other stores at Loch Lomond, Glasgow Airport and Edinburgh Airport.
Jenners is the world's oldest independent department store brand and employs 750 employees.
The Jenners deal will bring House of Fraser's portfolio of stores to 52. House of Fraser said the Jenners name would be retained.
The House of Fraser board said the deal would strengthen its position as the UK's leading retailer of designer brands.
In the year to January 30, Jenners' retail business and assets generated an unaudited gross transaction value of £49.1 million and unaudited profit before tax and interest receivable of £2.7 million.
House of Fraser said it estimates that, as at January 30, the net assets acquired were £17.5 million.
Meanwhile, the break-up of collapsed department store chain Allders continued yesterday after Debenhams took on eight sites - at Basildon, Ilford, Portsmouth, Slough, Sutton, Woking, Chatham and Clapham - while a number of shops shut for the final time.
Debenhams acquired the stores from corporate recovery specialist Kroll, which is selling a total of 24 sites.
Kroll said 13 Allders outlets had closed for business over the past few days, including one of the chain's highest profile stores at London's Oxford Street.
An estimated 1,000 staff at the closed sites - which also include Crawley, Lakeside, Southampton, Sutton Coldfield, Sheffield, Nottingham, Bolton, Horsham, Reading, Romford, Chineham and Ipswich - will continue to assist administrators for a few days before being made redundant.
