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Who owns the high street: Sanpower

House of Fraser

Department store group House of Fraser (HoF) has changed hands numerous times in its 169-year history. Previous owners include retail magnate Mohamed Al-Fayed and Icelandic investment group Baugur. Last week it emerged that current owner, Chinese conglomerate Sanpower, which owns 89% of HoF, is to sell a 51% stake to tourism development company Wuji Wenhua. Sanpower subsidiary Nanjing Xinjiekou will retain a 38% stake and the remaining 11% is owned by Mike Ashley

Sanpower bought its HoF stake in 2014, and the department store has made its first forays into China under its control, opening a high-spec store in Nanjing last January. Sanpower was first rumoured to be mulling a sale of its stake in 2016. Chairman Yuan Yafei pledged his support for the struggling retailer at the start of this year, after disappointing festive trading. 

HoF has 59 stores in the UK and Ireland.

 

 

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