One of Glasgow's most famous department stores is set for a major revamp.

In a move that signals confidence in the high end of the high street, retail tycoon Mike Ashley's Frasers Group plans a multi-million-pound renovation of the historic landmark on Buchanan Street.

Formerly known as Sports Direct International, the business was set up as a value retailer but has moved into luxury fashion via a string of acquisitions under its "elevation strategy".

The Herald: The move comes as Frasers Group, majority-owned by Mr Ashley, seeks to further strengthen its foothold in the premium league of retailing.The move comes as Frasers Group, majority-owned by Mr Ashley, seeks to further strengthen its foothold in the premium league of retailing. (Image: NQ)

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.

House of Fraser, a stalwart of the city's retailing scene for the past 170 years, is set to embark on a "significant" refurbishment with a focus on new high-end brands and partners, business correspondent Kristy Dorsey revealed in a Business HQ exclusive this week.

Scottish gold mine chief steps down

 

The company developing the Cononish gold mine near Tyndrum in Argyll has revealed that its chief executive has resigned, while reporting operational progress at the site.

The Herald: Cononish mine, and inset, Phil Day, who said: 'It has been a privilege to lead and develop the business'Cononish mine, and inset, Phil Day, who said: 'It has been a privilege to lead and develop the business' (Image: Newsquest)

Scotgold Resources announced Phil Day’s impending departure, to spend more time with his family in Australia, in an announcement to the stock market this week. Peter Hetherington, chairman of Scotgold, highlighted the company's commitment to "ongoing development and production from Cononish, Scotland’s first commercial gold mine".

Irn-Bru owner hit by mini-revolt over directors' pay

 

AG Barr has endured a mini-revolt over bosses’ pay at its annual general meeting.

The Herald: All resolutions tabled at the AGM were passedAll resolutions tabled at the AGM were passed (Image: PA)

Around one-third (33.53 per cent) of voted shares went against a resolution to approve the directors’ remuneration policy at the soft drinks giant’s AGM in Glasgow this week. A resolution, meanwhile, to receive and approve the annual statement by the chair of the remuneration committee and the directors’ remuneration report for the year ended January 29, 2023, was opposed by 17.4% of voted shares.

Famous city pub and restaurant acquired by Irish bar owners

 

A pub and restaurant premises on the new Edinburgh Tram route has been sold after being on the market for a matter of weeks.

The Herald: The pub was on the market for £675,000 for around ten weeks. The purchase price was not disclosedThe pub was on the market for £675,000 for around ten weeks. The purchase price was not disclosed (Image: Cornerstone Business Agents)

It comes as “demand is outstripping supply” in the city, it is claimed. The former Constitution Bar and Restaurant in Leith, marketed by Cornerstone Business, has been acquired by the Keane family, who operate Malones Irish Bars in Haymarket in the Scottish capital and Sauchiehall Lane in Glasgow.