Tag : House of Fraser
'Terminal' HoF extends administration periodSubscription
House of Fraser has extended its administration for a further 12 months, just weeks after owner Sports Direct Group branded problems at the department store as “nothing short of terminal in nature”.
To say it has been a turbulent week for Sports Direct Group is an understatement.
House of Fraser suppliers hit out at Ashley’s U-turn Subscription
House of Fraser suppliers have told Drapers they fear for the future of the struggling department store chain and questioned if Sports Direct’s Mike Ashley did his due diligence before he bought it.
House of Fraser weighs heavily on Sports DirectSubscription
Ahead of Sports Direct’s delayed results, expected on Friday, Drapers analyses Mike Ashley’s progress in transforming House of Fraser into the “Harrods of the high street” and integrating it into the group alongside premium fascia Flannels.
CVAs leave 850 empty shopsSubscription
More than 850 stores totalling 6 million sq ft of retail space has become vacant as a result of company voluntary arrangements (CVAs) in the past 18 months, new data from commercial property agency Colliers International has found.
House of Fraser suppliers back premium revampSubscription
House of Fraser suppliers have largely welcomed plans to rebrand 31 of its branches as a premium chain, but landlords are likely to play hard ball in the proposed rent break negotiations.
House of Fraser to launch Frasers luxury mini-chain Subscription
House of Fraser is reportedly planning to turn up to seven of its branches into a luxury mini-chain under the Frasers name.
Data shows areas hit hardest by Debenhams CVASubscription
The south-east of England would be hardest hit by the loss of the local Debenhams combined with other retail store closures in the coming months, research compiled for Drapers by the Local Data Company (LDC) has found.
The owner of the Stamford Quarter shopping centre in Altrincham has submitted plans to redevelop the House of Fraser department store into a retail, office and residential scheme.
Over the past few years, there have been a number of unexpected appointments to the top rungs of traditional fashion retailers, as they have sought to break away from accepted thinking.
Sports Direct tables offer for Magasin du NordSubscription
Sports Direct has offered to buy Debenhams’ Danish business, Magasin du Nord for £100m.
Nigel Oddy to join New Look Subscription
Former House of Fraser chief executive Nigel Oddy will join New Look as chief operating officer on 1 April, Drapers can exclusively reveal.
HoF website to replatformSubscription
House of Fraser’s website will replatform on to the same provider as the wider Sports Direct Group later this year, Drapers can reveal.
House of Fraser Belfast secured Subscription
House of Fraser has secured a new long-term lease for its store in Belfast’s Victoria Square shopping centre and is planning a £10m refurbishment.
House of Fraser fulfilment centre to close Subscription
House of Fraser’s distribution centre in Wellingborough, run by XPO Logistics, will close this spring after months of uncertainty, leaving up to 280 workers without jobs.
Large retailers are leaving regional high streets up and down the country at risk of having vast swathes of empty properties as they shrink their store portfolios, Drapers can reveal.
House of Fraser’s Christmas sales drop Subscription
Sales at House of Fraser reportedly plummeted 60% year on year in the run up to Christmas.
House of Fraser in Hull saved Subscription
The House of Fraser store in Hull has reportedly been saved from closure in a last-minute deal.
The employment merry-go-round continued to spin this year, as some of fashion retail’s biggest names headed for pastures new. Drapers looks back at the year’s most notable job changes.
The chairman of Debenhams has challenged Sports Direct boss Mike Ashley to table a formal bid to buy the department store chain, in which he owns a 29% stake.
Fashion retail's highs and lows of 2018Subscription
As this year comes to a close and a new one approaches, Drapers recaps the twists and turns in the retail industry over the past 12 months
Mike Ashley, owner and CEO, Sports Direct Group Subscription
Owner of Sports Direct, USC, Flannels, Cruise, Van Mildert, House of Fraser, Evans Cycles, a 27% stake in French Connection and a 30% stake in Debenhams, Mike Ashley is arguably the new king of the UK high street.
Sales edge up at Sports Direct Subscription
Group revenue at Sports Direct edged up 0.2% year on year for the 26 weeks to 28 October, despite the “struggles of the high street”.
US Polo Assn to debut with Arcadia and HoFSubscription
Menswear label US Polo Assn will launch in Arcadia Group’s multi-concept fascia Outfit and House of Fraser when the brand makes its UK debut next spring.
Brands spooked by HoF closuresSubscription
Some brands supplying House of Fraser are delaying committing to orders for spring 19 because of continuing uncertainty about store closures at the department store chain.
Mike Ashley: 'Tax the web boys 20%'Subscription
At a parliamentary committee hearing, Sports Direct Group owner Mike Ashley has called for a 20% internet sales tax to save the “flatlining mainstream high street”.
Mike Ashley snaps up former BHS store from IntuSubscription
Mike Ashley has bought the long leasehold of the former BHS store in Derby from shopping centre owner Intu.
Mike Ashley will demand the government does more to help struggling high streets when he attends a select committee on 3 December.
Indies hold their nerve on Black Friday Subscription
Independent retailers are shunning Black Friday despite rising pressure from consumers to offer discounts.
In the week leading up to Black Friday, one by one retailers are unveiling their discounts. Drapers brings you a roundup of the latest offers.
House of Fraser readying more store closuresSubscription
House of Fraser may be set to announce a fresh round of store closures, after landlords reportedly refused to agree to owner Mike Ashley’s new leasing terms.
House of Fraser in Manchester to closeSubscription
House of Fraser’s Manchester store will close in January.
Following the pre-pack administration purchase of Coast by Karen Millen this week, Drapers investigates the pros and cons of the process and what, if anything, can be done to make the process more transparent.
Ashley eyes HoF store freeholds Subscription
Sports Direct owner Mike Ashley is understood to be in discussions to buy the freeholds of several House of Fraser stores.
Is fashion facing a credit crisis? Subscription
As trade credit insurance providers reduce levels of or withdraw cover from some of the high streets’ biggest names, including Debenhams and Arcadia Group, Drapers investigates whether the current risk-averse environment is killing fashion retailers’ ability to do business.
To stand still is to go backwards. This well-known mantra has been quoted a thousand times, but is more relevant today than it ever has been.
Ashley injects 'own DNA' into House of FraserSubscription
House of Fraser suppliers and industry sources expressed little surprise today as Sports Direct owner Mike Ashley culled senior management at the troubled department store chain.
Mike Ashley’s Sports Direct has sacked the entire senior management team at House of Fraser weeks after it bought the troubled department store.
The owner of The Brunel shopping centre has hit out at Sports Direct’s decision to close the Swindon branch of House of Fraser.
Customers with unused House of Fraser gift cards are still waiting on refunds after the department store chain stopped accepting gift card purchases in stores, it has been reported.
House of Fraser is to axe its remaining house brands as it reshapes its strategy under new owner Sports Direct, Drapers understands.
What skills do retail leaders need today?Subscription
Challenging times require strong leadership. Nowhere is this more true than on the UK high street, where fashion bosses are battling a sluggish economy and shaky consumer confidence in an ever-changing retail industry
Department stores face fight for survivalSubscription
The UK department store sector remained in turmoil this week, as question marks hung over the future of anchor stores in many shopping centres and high streets.
HoF latest: staff could lose redundancy packagesSubscription
Up to 20 senior staff at House of Fraser face losing redundancy payments that were agreed before the department store chain collapsed, Drapers has learned.
KPMG owed £277k for House of Fraser CVASubscription
Accountancy firm KPMG has accrued losses of £277,533 after being paid just less than half the fees it was owed by House of Fraser for work on its company voluntary arrangement (CVA).
As the House of Fraser saga rumbles on and the repercussions continue to hit suppliers, there is much debate about who should be held accountable for the department store chain’s demise.
House of Fraser website set to reopenSubscription
The House of Fraser website could be set to reopen next week after a deal was struck with its warehouse operator.
Mike Ashley’s Sports Direct is understood to have offered loans to some suppliers that are struggling to cope with unpaid debts from the collapse of House of Fraser.
House of Fraser supplier Edinburgh Woollen Mill Group (EWM) is pulling all its stock, including own-brand House of Fraser ranges it manufactures, out of the department stores after negotiations with its owner, Sports Direct, collapsed, Drapers can reveal.
Quiz expects £400k House of Fraser hitSubscription
Young fashion brand Quiz says it is expecting to make a £400,000 provision in its next set of financial accounts relating to debt owed by House of Fraser.