Tag : House of Fraser
House of Fraser creditors owed £484mSubscription
House of Fraser’s unsecured non-preferential creditors, including suppliers, are thought to be owed around £484m, a report from administrator EY has shown.
The owner of Edinburgh Woollen Mill Group, Philip Day, is in talks with a group of landlords to take over several House of Fraser stores, Drapers understands.
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.
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.
There have been several times of late that I have urged the government to step in and support this industry, and unfortunately this week is no exception.
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.
Pension fears for House of Fraser Subscription
House of Fraser pension members could suffer a substantial cut to their benefits following the retailer’s fall into administration last week.