Glasgow institution House of Fraser could 'diminish' from the high street altogether according to the boss.

The department store has been a staple shopping experience in Buchanan Street since it was established in 1849, but a new plan for the company's future could mean it will cease to exist.

Frasers Group, which purchased the chain in 2018, has a plan for the store which would see it distance itself from the business model of operating department stores. 

Chief executive Michael Murray, the son-in-law of business tycoon Mike Ashley, dubbed House of Fraser a 'broken business' and revealed that the group is focusing on Frasers, the group's other brand. 

He told the Telegraph: "House of Fraser was a broken business when we bought it. We’ve completely changed the operating model.

"It was mostly concession, the stores were way too big, they were under-invested.

"Our future vision is that House of Fraser will diminish and Frasers will grow.

"We’ve just been obsessing over really building what Frasers should be and working towards that answer."

The comments come after we reported that plans have been submitted for the Buchanan Street store to undergo a huge transformation. 

Glasgow Times:

Plans are currently being considered by Glasgow City Council, and CGI images revealed how the store could look once the work is completed.

The external facade of the building has been given a new look with canopies and flags adorned with the store logo.

Glasgow Times:

Inside, new lighting and fixtures have been added to the store's beauty department. 

Speaking about the refurbishment plans, David Epstein, managing director of premium and luxury at Frasers Group, said: “Glasgow is a leading city for luxury retail, and we are looking forward to the prospect of opening our first Frasers flagship in this iconic building.

"We are investing significantly in the redevelopment of the site to create one of the most exciting new luxury retail destinations in Europe.

"In line with our elevation strategy, this will provide the group with the platform to collaborate with world-leading luxury brand partners and bring new innovative retail experiences to Glasgow.”