Administration
This coverage explores retail administrations and insolvencies within the UK market, examining the circumstances, decisions, and consequences for businesses, employees, and creditors. Reporting highlights notable cases, restructuring efforts, store closures, and leadership actions aimed at recovery or winding down. Designed for executives and managers, it offers insights into risk, resilience, and lessons from commercial failures.
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Aug- 2018 -28 AugustDepartment Stores
House of Fraser property plans revealed
An announcement is expected to be made later this week concerning the closure of more House of Fraser stores. “Greedy landlords” have been blamed for the impending closures which may result in the loss of hundreds of jobs as “time is running out”. Landlords are reportedly hesitant to agree to…
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23 AugustClothing & Shoes
Crew Clothing acquires Saltrock Surfwear
Saltrock Surfwear, a leisurewear and accessories retail brand based in Devon, has been sold to Crew Clothing Group via a pre pack administration. David Pike and Mark Orton from KPMG were appointed joint administrators to Saltrock Surfwear Limited on 17 August. Immediately upon their appointment, they concluded a sale of…
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21 AugustDepartment Stores
House of Fraser Oxford Street store saved but 627 warehouse jobs still at risk
House of Fraser’s flagship Oxford Street store has been saved from closure by its new owners. The store was due to close in January under the House of Fraser CVA that was announced in June 2018 before the company entered administration. However Mike Ashley’s company Sports Direct agreed to acquire…
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17 AugustHigh Street
House of Fraser cancels all online orders
Struggling retailer House of Fraser has cancelled all online orders and will refund customers who have not received their products. This comes only days after the retailer announced on Twitter that “orders would be delivered as soon as possible”. In the tweet, the company added that due to recent changes…
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16 AugustDepartment Stores
Philip Day eyeing House of Fraser stores
Philip Day, the owner of Edinburgh Woollen Mill is reportedly in talks with landlord groups regarding a takeover of several House of Fraser stores. Day is talking to 10 to 15 landlords with a view to running them as Days Department Stores according to Drapers. Rents and leases on House of…
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14 AugustDepartment Stores
Mike Ashley plans to keep 80% of House of Fraser stores open
Sports Direct owner Mike Ashley has vowed to keep 80% of House of Fraser’s stores open, after he saved the department store chain from administration in a £90m buyout last week (Friday 10 August). When the department store entered a CVA in June, it planned to shut 31 of its…
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10 AugustDepartment Stores
Sports Direct saves House of Fraser in £90m eleventh-hour deal
Sports Direct has agreed to acquire House of Fraser for £90m in a deal that came just minutes after the department store chain entered administration. A Sports Direct statement read: “The group has acquired all of the UK stores of House of Fraser, the House of Fraser brand and all…
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10 AugustDepartment Stores
House of Fraser site offline as administration threatens 17,500 jobs
House of Fraser has appointed administrators after talks with investors and creditors were “not concluded in a solvent solution”. The department store currently employs 17,500 people across its 59 stores of which 31 have already been earmarked for closure. Despite the administration all House of Fraser stores are expected to…
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9 AugustDepartment Stores
House of Fraser fate could be decided today
A decision could be made on the future of House of Fraser today as its creditors assess takeover bids made by Sports Direct’s Mike Ashley, retail tycoon Philip Day, and retail turnaround fund Alteri Investors. According to Sky News, PwC spent Wednesday (8 August) afternoon negotiating on the 169-year-old’s department…
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7 AugustClothing & Shoes
Phillip Day to snap up Jacques Vert
Retail boss Phillip Day is said to be preparing to add womenswear brand Jacques Vert to his retail portfolio, which has already seen the recent addition of Jaeger. Day will look to acquire the struggling brand through a separate company to Edinburgh Woollen Mill according to Sky News. The deal…
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