House of Fraser
This coverage examines House of Fraser’s role and performance in the UK retail sector, featuring updates on store operations, financial results, leadership changes, and brand strategy. Reporting explores how the company navigates challenges in the department store segment, offering insights for retail managers and executives assessing market positioning and commercial opportunities.
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May- 2018 -8 MayDepartment Stores
Sports Direct launches legal action against House of Fraser over CVA disclosures
Mike Ashley, owner of Sports Direct, filed a petition against House of Fraser on Friday (5 May) following the department store’s decision to close some of its outlets. Sports Direct holds an 11.1% stake in House of Fraser and Ashley claimed the company was “frozen out” and “repeatedly denied information…
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4 MayClothing & Shoes
1,000 jobs at risk after Calvetron enters administration
Over 1,000 jobs are on the line after fashion retailer Calvetron entered administration. The company behind Windsmoor and Jacques Vert was rescued last summer with a deal that resulted in the loss of over 700 jobs. The fashion retailer acquired a £12.5m loan from Secure Trust Bank to try and…
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2 MayDepartment Stores
House of Fraser CVA prompts closures amid 51% sale
House of Fraser has confirmed the sale of a 51% stake in its group, which may lead to the closure of some of its stores. Chinese retailer C.Banner has acquired the existing shares from current owner Nanjing Xinjiekou, giving it majority control. Nanjing will retain its minority stake. The value…
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Apr- 2018 -19 AprilDepartment Stores
Store closure fears loom as House of Fraser appoints advisors
House of Fraser has appointed KPMG to advise the company on a restructuring plan, raising speculation that a number of stores may be about to close. The consultancy specialists are expected to look at all of the department store’s options including a Company Voluntary Agreement. The appointment is understood to…
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13 AprilDepartment Stores
Sanpower to introduce Chinese brands to Europe through House of Fraser
Sanpower Group has announced a new supply chain programme to introduce premium Chinese brands to the UK, Europe and rest of the world through House of Fraser. Launched at the first Sanpower Global Supplier Conference in Nanjing, China on 10 April, the global supply chain management platform aims to spur…
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3 AprilDepartment Stores
House of Fraser gets additional £15m cash injection
House of Fraser has received a further £15m investment from its Chinese owner Sanpower Group after it suffered a drop in sales over the Christmas period. The company lost £9m last year and saw its sales fall by 2.9% during the festive period. Sanpower, chaired by billionaire Yuan Yafei, put…
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3 AprilEconomy
21,000 retail jobs lost or threatened so far this year
Over 21,000 jobs have been axed or put at risk in the first three months of the year as retailers struggle to break even. A Press Association analysis revealed that 21,413 staff members have already been made redundant or had their role threatened, with the majority being from large high-street…
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Mar- 2018 -26 MarchDepartment Stores
House of Fraser holds emergency refinancing talks
Department store group House of Fraser has held refinancing talks with Alteri Investors as fears grow over its financial condition. According to The Sunday Times, House of Fraser executives met with Alteri, an investor firm that specialises in turnarounds for struggling retailers, with the aim of securing around £40m of…
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13 MarchGovernment
Leading retailers support plan for sustainability and equality
Over 25 leading UK retailers, including Sainsbury’s and John Lewis, have signed up to a series of pledges to tackle global challenges over the coming decades. The ‘Better Retail Better World’ scheme includes a series of stretching targets for the retail industry to achieve by 2020, and uses the United…
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Feb- 2018 -13 FebruaryClothing & Shoes
Insolvency cracks showing with one in five fashion retailers
Some 19% of UK clothing retailers are currently exhibiting early warning signs that they are at risk of going insolvent, according to research by accountancy firm Moore Stephens. Out of 35,078 fashion retailers analysed, 6,580 are showing early signs of financial distress, which can include a large fall in revenue…
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