Nottingham's House of Fraser store is set to close in the New Year, it has been confirmed.

Bosses at the retailer's parent company, Sports Direct, said they have made the decision after failing to come to an agreement with landlord intu to continue trading. It is one of four closures announced today (November 14).

The fate of staff at the store, which opened in October 1997, is not yet known but Sports Direct has said it is now in consultation with staff at the affected branches, which includes Norwich, Gateshead and the Lakeside centre in Essex.

Chief Executive of Sports Direct Mike Ashley said: "We had multiple meetings with intu, but we were no further forward after 14 weeks.

"Unfortunately, these stores now face closing in the new year. I urge other institutional landlords to be more proactive to help save the HoF stores in their schemes."

Nigel Wheatley, general manager at the intu Victoria Centre, confirmed a number of meetings had taken place with Sports Direct but an agreement could not be reached.

He added: "There’s a lot going on at the centre and our plans mean that we have a number of exciting new brands either now open or currently in negotiations to take their first stores at intu Victoria Centre, whilst others are looking at their existing stores to make sure they are making the most of their presence in the centre. We’re sure that this investment will create new jobs.

"We also believe there is a real opportunity to reuse this space for new and exciting alternatives. We have a strong track record of doing just that with the great success of Nottingham Street Food Club and Meetspace VR, which opened last month, and have some great ideas on the table including other big retail brands but also non-traditional shopping centre uses.

"Our teams continually look at options that will create the right mix of retail and leisure to meet the needs of our customers, giving them a great experience and even more reasons to smile."

Scott Knowles, Chief Executive at East Midlands Chamber, said: "House of Fraser is a prominent and long-established business and its closure is going to have a strong impact on the centre of Nottingham, which is to be regretted.

"However, it is ultimately a business decision and if agreements cant be reached between landlords and tenants, then these sorts of decisions have to be taken.

"Hopefully a compromise might be reached and if not, that the premises won't stay empty for too long and any jobs lost as a consequence of this decision will be replaced."

The announcement has come on the same day intu pushed back the deadline on its talks with a consortium of buyers looking to take over the business.

A group led by John Whittaker's Peel Group now has until November 22 to make a firm offer.

Mr Ashley has previously made public statements attacking House of Fraser store landlords and it is claimed many of them are reluctant to agree to the 'low rents' demanded by Mr Ashley.

The tycoon has warned time is "running out" and said that some stores will have to close. Following his acquisition of the chain in August, Mr Ashley pledged to save around 47 of House of Fraser's 59 outlets.