HOF news and archive

House of Fraser Swindon to remain open

Following a spate of recent closures, it’s been confirmed that the House of Fraser in Swindon will remain open after Sports Direct owner Mike Ashley came to an agreement with the store’s landlord, FI Real Estate Management (FIREM). The news comes just a week after four more House of Fraser stores were confirmed to be closing. Commenting on the...

Retail

Manchester's 182-year-old House of Fraser to close in the New Year

House of Fraser is closing its landmark ‘Kendals’ building in Manchester after 182 years. Workers have been told that the building is set to close for good on 28 January, with at least 160 people set to lose their jobs. A spokesperson for House of Fraser said in a statement on Friday: “We have suggested various options to the landlord that would...

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Business

Mulberry, first victim of HoF’s collapse ripple effect

The British upscale fashion and accessories brand has warned that House of Fraser (HoF) collapse will have a negative impact on its finances. Mulberry is one of the many HoF’s creditors that won’t be able to get back the money they lent to the failed department store chain. Earlier this month Mulberry Group PLC (LON:MUL) issued a profit warning...

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Fashion |INTERACTIVE

House of Fraser re-opens two distribution centers

Troubled department store House of Fraser has seen two of its distribution centres re-open following customer order cancelations after disagreements with the company's logistics provider. According to Drapers Hof's Milton Keynes and Wellingborough sites are operating again after a preliminary resolution with XPO Logistics, the company which owns...

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Business|UPDATE

House of Fraser appoints administrators as rescue talks fail

In a statement sent to Luxemburg Stock Exchange today, House of Fraser has announced that its discussions with interested investors and its main secured creditors have not concluded in a solvent solution. Therefore the directors of the group’s operating companies, House of Fraser (Stores) Limited, House of Fraser Limited and James Beattie...

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Business

House of Fraser settles CVA challenges from group of landlords

House of Fraser has announced through a statement that the challenges by a group of its landlords to its Company Voluntary Arrangements, which were approved at meetings of the companies’ creditors on June 22, 2018, have been settled. This means that the company will now go ahead with its planned closure of 31 of its 59 department store estate,...

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Business|ANALYSIS

House of Fraser on the lookout for eleventh hour salvation after C.Banner walks away

British fashion retailer House of Fraser has seen its future compromised after Chinese investment firm C.Banner walked away from a rescue deal that included acquiring a majority stake in the apparel chain as well as a 70 million pounds cash injection. C.Banner was thought to have planned to take control of the struggling department store chain...

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Business|ANALYSIS

House of Fraser rescue scheme to cost 6,000 roles

House of Fraser rescue plan includes a CVA proposal to shut 31 stores across the UK and Ireland, which would see up to 6,000 jobs being lost. The struggling department store group, who opened its first store in Glasgow in 1849, stressed that it did "not have a viable future" unless its CVA proposal received the green light from landlords and...

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Retail|UPDATE

House of Fraser to shut more than half its stores under CVA

Struggling department store group House of Fraser confirmed it is set to shut 31 of its 59 UK and Ireland stores, affecting 6,000 jobs, as it shares the details of its Company Voluntary Arrangement proposals (CVA). HoF confirmed it filed its plans in court on Wednesday, June 6 with the Court of Session in Edinburgh, in line with its conditional...

Retail

House of Fraser may add Lillywhites sportswear units to portfolio

British department store group House of Fraser (HoF) could introduce units of London's discount athletic sportswear banner Lillywhites, owned by Sports Direct. Sports Direct's deputy chairman and majority owner Mike Ashley has an 11 stake in HoF. According to the Sunday Telegraph there have been talks between Sports Direct’s chief executive Dave...

Fashion

House of Fraser to launch multichannel hub within Caffè Nero

Department store House of Fraser is partnering with Caffè Nero to open a new multichannel concept store within the coffee chain’s Cambridge store, as it looks to increase its “physical footprint” in cities where a store isn’t present. The new concept will see Caffè Nero’s Fitzroy Street,Cambridge store being transformed into a multichannel hub...

Design

Allan Winstanley to depart House of Fraser for de Bijenkorf

Allan Winstanley, the executive director of women's wear, accessories, beauty and visual merchandising at British department store chain House of Fraser, is set to leave his position to take a new role at Dutch premium department store de Bijenkorf. Winstanley will be leaving HoF in March and join the de Bijenkorf as buying director for all...