Up to 200 jobs are to be created in Derry with the announcement of a new department store to replace Debenhams.
Frasers Group has agreed a deal to take over the large unit at Foyleside Shopping Centre.
The Derry retail sector suffered a major blow earlier this month when Debenhams announced that all five of its Northern Ireland stores are closing.
An off-market deal to purchase its anchor building in Derry has been warmly welcomed.
A new Frasers department store will open at Foyleside next year – similar to its anchor store at Victoria Square in Belfast.
Paul Wilson, Director of Retail at Savills who brokered deal the commented: “Bringing Frasers to Foyleside is a massive positive for the centre and the city as a whole. Employing some 200 staff, this will replace the Debenhams with a new relevant retail offering to the centre together with a huge investment to refit the property which we hope will include the stores aspirational Flannels fashion hall.”
Debenhams will continue to trade through the Christmas period.
