Tag Archives: House Of Fraser

Frank Slevin had been chairman of the toy shop chain since it was bought by a Chinese company affiliated to House of Fraser’s former owners three years ago. His position has been terminated, according to a filing at Companies House.

The Sports Direct owner has said he wants to retain 80 per cent of House of Fraser’s stores and bring in “cools brand of the moment.”

“The group has acquired all of the UK stores of House of Fraser, the House of Fraser brand and all of the stock in the business,” it said.

The department store chain will close 31 of its stores having settled with landlords to avoid litigation.

Day could be about to throw the struggling department store chain a lifeline following confirmation that China’s C.Banner, owner of Hamley’s, had pulled out of a £70m rescue deal.

The retailer must 'drag itself into the 21st century,' through better online services, say tech analysts

Ashley has put forward what h considers ‘better terms’ than those offered by the Chinese fashion conglomerate and Hamleys owner, C. Banner who last week revealed it was delaying its deal.

6,000 jobs will now be axed as the department store chain escaped administration.

The warning follows recent reports that high street retailer New Look tried to cut the rent of one its sites, but then allegedly offered to pay more after a decision was made to cancel the lease.

If the plan is approved, 2,000 House of Fraser jobs will go, along with 4,000 brand and concession roles.