House of Fraser website pulled offlineSubscription
House of Fraser’s website has been taken offline amid a dispute with warehouse operator XPO Logistics.
Debenhams shares soared yesterday as rumours arose that Mike Ashley could make a bid for the department store.
Reports suggest employees at a key warehouse supplying House of Fraser stores and online shoppers have halted work over delivery payment terms with Mike Ashley’s Sports Direct.
House of Fraser chairman exitsSubscription
House of Fraser chairman Frank Slevin has left the business, Drapers understands.
Moody’s to withdraw House of Fraser ratingSubscription
Credit ratings agency Moody’s has downgraded House of Fraser by three notches and will withdraw all of its ratings to reflect the “high expected losses” for financial creditors as a result of its pre-pack sale to Sports Direct last week.
House of Fraser struck a £1m “sweetheart” deal with landlords to drop their legal challenge to its company voluntary arrangement (CVA) days before it went into administration, Drapers can reveal.
House of Fraser’s new owner Mike Ashley said he will try to keep 80% of the department store chain’s 59 stores open and will add successful “cool brands of the moment”.
HoF administrator halts supplier paymentsSubscription
House of Fraser suppliers and concessionaires are urging Sports Direct to “do the right thing”, as they count their “substantial” losses for payments due before the department store chain went into administration last week.
Brands pull stock from House of FraserSubscription
Several concession holders have removed stock from House of Fraser following the retailer’s fall into administration last week.
Sports Direct has appointed property agency CBRE to start talks with House of Fraser landlords over the coming days.