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

House of Fraser’s fate could be decided today

It is thought that House of Fraser’s creditors will come to a decision about the retailer’s future today. Bids from Sports Direct owner Mike Ashley, Edinburgh Woollen Mill Group owner Philip Day and turnaround specialist Alteri Investors remain in the picture.

Sky News reports that PwC spent yesterday negotiating on behalf of HoF’s lenders and bondholders with at least three prospective buyers.

Philip Day’s bid is thought to avoid an administration process while Ashley’s is reported to involve putting the department store chain through a pre-pack administration.

PwC is said to be preparing to outline creditors’ preferred options to HoF’s advisor Rothschild as early as today, but insiders said the timeline could slip.

Drapers has contacted HoF for comment.

Earlier this week, Drapers reported HoF is due to start making payments to its concession partners from 15 August onwards.

Readers' comments (1)

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.