House of Fraser's Telford store is to remain open under a deal secured by the company's new owner, Sports Direct.
The announcement will save 150 jobs at the store, which had been earmarked for closure.
Sports Direct's chief executive - and House of Fraser's new owner - Mike Ashley has pledged to save around 47 outlets.
James Keany, head of national agency at CBRE, said: "This is another example of what can be achieved when landlords work with us to ensure we deliver on the House of Fraser rescue plan."
The Telford Centre is undergoing a £55 million redevelopment, due to finish in spring 2019.