What: Closure of landmark department store

Why it is important: Echoes the problems of retailers including department stores to cover real estate and rental costs during the pandemic.

The landmark Edinburgh department store operated by Frasers Group but owned by Danish billionaire Anders Holch Povlsen will close on 3 May 2021. Frasers Group has not been able to reach a agreement with the owner. The closure will mean the loss of 200 jobs. Povlsen, who is also the largest investor in online retailer Asos and one of the UK’s most important landowners, apparently has plans to turn the building into a hotel with a bar and restaurant.

Many UK retailers have been struggling to reach agreements with their landlords, for example by linking rent to turnover. The mall operator Hammerson last week said it had received less than half of the rent owed by tenants in the last quarter.

Edinburgh's landmark department store Jenners to close after 183 years

Related item:

• Jenners to leave Edinburgh site