CVA deal to result in six major store closures

House of Fraser in Birmingham
Creditors have backed department store chain House of Fraser's plans that will see more than half of its stores closed with the loss of up to 6,000 jobs. The troubled retailer will now go ahead and shut 31 of its 59 shops nationwide and impose big rent cuts on 10 others that it intends to keep through a company voluntary arrangement (CVA), a form of insolvency proceedings. The West Midlands stores earmarked for closure are Birmingham, Leamington Spa, Shrewsbury, Telford, Wolverhampton and Worcester. All stores identified for... For the full story register now for free or login below...
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