House of Fraser cash injection deal ‘on hold’
The deal to rescue House of Fraser, which would also see the closure of 31 stores, has been put on hold because of legal action by a group of landlords.
The Company Voluntary Arrangement (CVA) had been approved last month and Chinese investor C Banner, which owns Hamleys, was then going to put in £70m into the retailer.
But it has held off after legal action was begun to challenge the CVA, on the basis of "unfair prejudice" against certain creditors and "material irregularities" in how the deal was pushed through.
The CVA wo... 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...