House of Fraser appoints administrators as rescue hopes fade
Department store chain House of Fraser has appointed administrators after talks with potential investors failed to result in a rescue.
In a statement, it said that talks with investors and creditors had "not concluded in a solvent solution".
House of Fraser employs 17,500 people, including 11,500 concession staff.
Earlier this month, a potential investor cancelled its fundraising plans to become a major shareholder.
C.banner, a retailer of footwear brands in China, was planning to invest £70m into the firm but cancelled i... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
