House of Fraser in High Wycombe will remain open after all, Eden Shopping Centre bosses have confirmed.

The store was earmarked for closure when House of Fraser fell into administration, but high street mogul and Sports Direct owner Mike Ashley bought the company in a pre-pack deal hours later for £90 million, vowing to keep 80 per cent of stores open.

Management at the High Wycombe store say the shop will be staying open and will remain "fully operational".

If the store closed, Wycombe District Council would have been faced with rent losses of £80,000 a year.

Andrew Norton, centre director at Eden, said: “We’re delighted that House of Fraser have decided to retain their presence at Eden.

"We believe the brand fits perfectly with our catchment’s demographic profile and with our retail mix.

"Sitting alongside retailers such as M&S, Zara, H&M, MAC and restaurants including Nando’s, Wagamama, Zizzi and Bill’s, House of Fraser helps to deliver a compelling proposition for our customers.”