ONE of the UK’s historic department stores, Jenners in Edinburgh, is to close with a loss of 200 jobs.

The announcement was made after Frasers Group plc failed to reach an agreement with building owners Anders Polvsen to continue the lease on the building.

The House of Fraser department store is expected to cease trading on May 3.

The shop has been a landmark on Princes Street for the last 183 years, previously trading as an independent shop until it was acquired by House of Fraser in 2005.

A spokesman for Frasers said: “Despite the global pandemic, numerous lockdowns and the turbulence caused for British retail, the landlord hasn’t been able to work mutually on a fair agreement, therefore, resulting in the loss of 200 jobs and a vacant site for the foreseeable future with no immediate plans.

“Our commitment to our Frasers strategy remains but landlords and retailers need to work together in a fair manner, especially when all stores are closed.

“We would like to take this opportunity to thank our Jenners staff for their hard work and dedication.”

The building in Princes Street is owned by Danish billionaire Anders Holch Povlsen who said in 2019 he planned an "exciting renovation". It has been reported that he is developing a hotel and retail space at the site.

The news follows the collapse of House of Fraser in Edinburgh, which is expected to be turned into a new seven-storey whisky visitor centre by drinks giant Diageo.

READ MORE: Plans submitted to transform iconic House of Fraser building

It would include a new store setup in the building, rooftop bars, an events space and a bar academy, which would provide training and employment opportunities for people out of work, as well as working to improve standards in the hospitality sector.

House of Fraser fell on hard times in the 1990s and early 2000s. Scottish retail entrepreneur Sir Tom Hunter tried to buy the chain but was rebuffed.

READ MORE: The fall of House of Fraser – the sad collapse of a one-time Scottish success story

The company began to retrench in Scotland in particular, closing branches of Frasers and Arnotts around the country before it bounced back in 2005 by buying Jenner’s.