Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Cassar eyes deals after leaving House of Fraser

House of Fraser chief finance officer Stefan Cassar will scout for new retail investments next year after stepping down from the department store group this week.

Cassar told Drapers that he would go travelling for five months before looking for new investments, which were likely to include fashion businesses.

“I’ll look for opportunities and put another consortium together,” he said. “It could be something big if the opportunity presents itself or I could also look at medium-sized retailers or fashion brands.”

Cassar was part of the consortium that bought House of Fraser for £351 million in November last year, and will remain a non-executive director and investor at House of Fraser.

He said: “My plan was always to come on board with House of Fraser mainly as an investor and stay for the first year. It has been really enjoyable and House of Fraser is well positioned financially and operationally to push forward.”

Cassar has been replaced by Mark Gifford, previously direc-tor of financial services at the retailer. Gifford has also worked for travel agent First Choice Retail as finance director. Separately, House of Fraser has promoted commercial director Colin Porter to the board.

The retailer reported sales of £246.7 million and pre-tax profit of £7.9m for the three months to January 27.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.