Several concession holders have removed stock from House of Fraser following the retailer’s fall into administration last week.
More from: House of Fraser enters administration
Drapers understands Jigsaw and Karen Millen removed some stock from some of their HoF concessions over the weekend.
Some brands that are sold in HoF stores via wholesale agreements are understood to be reviewing “retention of title” clauses.
UK and Ireland managing director of Gant Fergus Patterson said: “Gant has retention of title and will be seeking clarity over the coming weeks.”
Many suppliers have told Drapers they are growing increasingly worried as payments due this week will not be made.
HoF creditors – including suppliers and landlords – are thought to be owed more than £70m.
A total of £600,000 is available to unsecured creditors under the prescribed part of insolvency legislation. Unsecured creditors include suppliers, landlords and the retailer’s 10,000 pension holders.
Jigsaw and Karen Millen declined to comment.
Drapers has contacted House of Fraser, Sports Direct and EY for comment.
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Readers' comments (2)
Steve Sidkin13 August 2018 10:12 pm
It would appear that a trial of strength is developing between the new owner of House of Fraser and brands which may consider that they do not need to be in HoF's stores going forwards.
Addressing brands concerns over non-payment for supplies delivered or net receipts (in the case of concessionaires) following last week's pre-pack might go someway to providing confidence to continue to do business with HoF..
Stephen Sidkin
Chair
Fashion Law Group
Fox Williams LLP
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Andrew McGarry14 August 2018 11:39 am
Can HoF's brand credibility survive if they don't pay suppliers? There must be several luxury brands already thinking about parting ways.
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