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House of Fraser appoints Rothschild for debt refinancing

House of Fraser has appointed investment bank Rothschild to advise it as the retailer looks to refinance its debt package.

The department store will work with Rothschild on the refinancing of £225m of its £390m debt package, which will mature in July 2019, according to the Daily Telegraph.

Earlier this month, an unnamed credit insurer opted to stop offering cover to some of House of Fraser’s suppliers. The insurer covered around 20 of the retailer’s 650 suppliers.

House of Fraser saw bricks-and-mortar and online sales fall in the run-up to Christmas. Sales instore for the six weeks to 26 December dipped by 2.9% and web sales were down 7.5%.

Readers' comments (1)

  • It's self evident that House of Fraser does not have the expertise to succeed as the company have never dealt with the fact they are running on debt.

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