Nanjing Xinjiekou news and archive

House of Fraser says its “business as usual” as Chinese owner prepares to sell stake

London - House of Fraser has confirmed that Nanjing Xinjiekou Department Store Co. in advances discussions to offload a large chunk of its 89 percent stake to another Chinese firm. However, the struggling department store chain stresses the sale will not affect its operations as it is “business as usual.” On Tuesday morning a Chinese stock...

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Business

House of Fraser's Chinese owner set to sell stake in troubled department store chain

London - Things are not looking good for House of Fraser. Weeks after reports emerged that the deparment store hired investment bank Rothschild to look are refinancing its debt packages comes news that Nanjing Xinjiekou Department Store co ltd., HoF's Chinese owner, is looking to sell its majority stake in the struggling department store chain....

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People

House of Fraser CEO steps down amongst series of management changes

John King, Chief Executive Officer at department store group House of Fraser is set to exit his role after a tenure of eight years as the group makes a series of changes amidst its management team following the sale to Chinese consortium Nanjing Xinjiekou last year. King is to be succeeded by HoF's current Chief Operating Officer Nigel Oddy but...

Design

Sanpower confirms deal with House of Fraser

The deal between House of Fraser and Chinese conglomerate Sanpower Group has been officially confirmed. Nanjing Xinjiekou, one of China's oldest department stores owed by Sanpower, issued a statement to the Shanghai Stock exchange Tuesday confirming news that the Group had ended discussions to purchase 89 percent of British department store...