The retail industry expressed a mix of emotions following the approval of House of Fraser’s company voluntary arrangement (CVA) today (22 June). Many suppliers breathed a sigh of relief, but some landlords are understood to be considering legal action against the department store chain.
House of Fraser CVA result revealed Subscription
House of Fraser creditors have approved the retailer’s company voluntary arrangement (CVA) proposals, filed on 6 June.
HoF alters ownership structure ahead of CVA voteSubscription
House of Fraser has altered the ownership structure of one of the two companies facing a company voluntary arrangement (CVA) vote today (22 June).
House of Fraser has axed four merchandising directors and placed a significant proportion of its buying and merchandising teams into consultation amid a shake-up of its brand strategy, Drapers understands.
Ahead of the crucial vote on its company voluntary arrangement (CVA) tomorrow, struggling department store House of Fraser has said it will focus on the “best selection” of contemporary brands, exclusivity and an agile response to trends as it battles to keep with consumers.
House of Fraser has been thrown a lifeline by two of its major lenders after an agreement was secured to extend credit facilities and loans to the end of 2020 - as long as its CVA plans are approved.
House of Fraser’s company voluntary arrangement (CVA) has been billed as the tough action needed to stem the tide at the ailing retailer, but what happens to the retailer’s legacy store estate once the brand vacates the 31 stores on its closure list?
Sports Direct owner Mike Ashley has written down the entire value of his £11m stake in House of Fraser before the retailer proposed its company voluntary arrangement (CVA) last week.
BPF calls for urgent government review of CVAsSubscription
The British Property Federation (BPF) is demanding an urgent government review of the Company Voluntary Arrangement (CVA) process.
Government policies on business rates could have cost House of Fraser up to £3m in extra tax, it has been revealed.