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 its ... For the full story register now for free or login below...
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