The closure of the House of Fraser department store on Edinburgh's Princes Street has been confirmed, after a plan to cut costs was approved.

The struggling chain will close 31 out of its 59 outlets through a Company Voluntary Arrangement (CVA), which will also allow it to secure rent reductions on its remaining shops.

House of Fraser secured the backing of 75% of creditors for the CVA deal on Friday.

The move will result in 127 job losses due to the closure of the Edinburgh store, among 6000 across the UK.

The retailer will also relocate its Granite House office in Stockwell Street, Glasgow.

Jenners store on Princes Street, also owned by House of Fraser, will not be affected by the restructuring plans.

Scotland's two other House of Fraser stores, in Loch Lomond and Glasgow, have not been earmarked for closure.

The brand, which began life as a Glasgow drapery shop in 1849, has been hit hard by changing retail habits.

House of Fraser chairman Frank Slevin said: "I am now focused on the implementation of the business plan.

"We will continue to focus on that going forward. Today has given us part of the solution to that."

Will Wright, restructuring partner at KPMG and joint supervisor of the CVA, said: "The approval of these CVAs provides House of Fraser with the breathing space it needs to proceed with its proposed operational restructuring plan across a smaller core portfolio of stores."