House of Fraser losses revealed ahead of Chinese takeover

House of Fraser (HoF) witnessed a loss of 43.9 million pounds (59.6 million dollars) for the 12 months to December 31, 2017 against a profit of 1.5 million pounds (2.04 million dollars) a year before, according to a statement released as part of a takeover of the firm by C. Banner. It added that the departmental store chain saw its sales fall by 6.3 percent to 787.8 million pounds (1,069.9 million dollars).