House of Fraser calls in administrators

10 Août, 2018, 13:56 | Auteur: Auguste Feret
  • The exterior of the King William Street branch of House of Fraser can be seen here in central London

After reaching a settlement with its landlords it was revealed that plans were still on track, but the sale to Sports Direct could mean the Lincolnshire stores will survive.

It it not clear how many of its 59 shops or 17,000 staff employed by the chain and its concession holders would be affected.

House of Fraser's Lincoln store is opening later on Friday, August 10.

"Pursuant to the transaction, the group has acquired all of the United Kingdom stores of House of Fraser, the House of Fraser brand and all of the stock in the business".

The firm said: "Significant progress has been made towards completing a sale of the group's business and assets".

The retailer has one store in Dublin and one in Belfast, though neither were in the cohort of outlets marked for closure under the rescue plan.

House of Fraser assured that its offices and stores will continue trading as normal while they look to reach a deal.

Rescuers evacuate 750 campers as flash floods hit in France
A spokesman for Gard Prefectures said: "It is hoped the flooding will reach its peak by around 11pm on Thursday". Pictures showed rescuers wading through flooded campsites with damage to tents, caravans and bicycles.

Lombok natural disaster : Strong aftershock amid rescue efforts
But some evacuees have complained of being ignored or experiencing long delays for supplies to arrive at shelters. Other evacuees said they were subsisting on a diet of instant noodles and needed clean water and bedding.

Onze enfants découverts séquestrés dans un repaire délabré — Etats-Unis
Les enfants se trouvaient dans "les pires conditions de vie et de pauvreté que j'aie jamais vues ", a confié un officier . Le petit garçon aurait apparemment séjourné dans ce taudis quelques semaines avant l'intervention de la police.

"All stores will be open for business as usual today", it said in an announcement to the Luxembourg Stock Exchange earlier today.

A statement from Alun Hudson said: "We have worked very closely with management, its advisors and creditors in recent weeks and are pleased that we have been able to successfully conclude a sale of the business in short timescales which preserves as numerous jobs of House of Frasers employees as possible".

Events have moved quickly since the 169-year-old retailer told investors on Thursday it needed to raise new investment by 20 August.

"In the two weeks since the Cenbest and C.Banner transaction ceased, the directors have brought forward a number of potential buyers and the group's financial advisors have run a comprehensive M&A process to identify and then develop other third party interest that has culminated in the senior secured creditors leading negotiations with parties at a critical pace".

House of Fraser has been plunged into fresh crisis after C.banner, the Chinese owner of Hamleys, pulled its investment into the troubled retail chain.

The chain said discussions between interested investors and its main creditors did not conclude in a "solvent solution" and it has no choice but to appoint administrators.

Conseillé:

  • Kenny Stills and 2 other Dolphins protest during national anthem

    Kenny Stills and 2 other Dolphins protest during national anthem

    During pregame warmups, multiple Eagles players wore T-shirts raising awareness about voter registration and prison populations. Some players held their fists in the air, while others chose to kneel, despite the controversy surrounding the action.

    Tottenham first Premier League team to fail to make one summer signing

    Pep Guardiola's side won the top-flight crown for the first time under the Spanish head coach last season with 19 points to spare. Fast forward three months and the north Londoners are under-fire from their fans after failing to make a single signing.
    Pourquoi il ne vaut mieux pas consommer trop d'algues ?

    Pourquoi il ne vaut mieux pas consommer trop d'algues ?

    Elle recommande une consommation prudente des enfants, " les données étant insuffisantes pour mesurer le risque encouru ". Mais pour quelles raisons? Mais gare au risque d'excès d'apports en iode , avertit l'agence de sécurité sanitaire Anses.
  • James Bond producer says 'it is time' for a black 007

    James Bond producer says 'it is time' for a black 007

    He's returning as Bond in the as-yet untitled 25th film in the series , set to begin filming late in 2018. MGM will distribute the film domestically while Universal Pictures will handle global distribution.
    The Meg movie review: shark lark

    The Meg movie review: shark lark

    Just because you should always try and not narrow that down and imagine what you want it to be and just go for the ride. I go there but I've learned not to get too attached with your own idea of what something could be.
    Twitter CEO Defends Decision Not to Ban Alex Jones, Infowars

    Twitter CEO Defends Decision Not to Ban Alex Jones, Infowars

    But Web users can still access Infowars through its website and through the same tech companies that just banned it. While he began broadcasting his shows in 1999, Jones' profile has spread from the far-right fringe in recent years.
  • Cyclisme: Adrien Costa amputé d'une jambe

    En 2017, il avait suspendu sa carrière sportive avant d'annoncer en 2018 vouloir désormais se consacrer à ses études. Suite à un accident de randonnée le franco-américain de 20 ans a dû être amputé d'une jambe explique Ouest France .
    Jose Mourinho aims early dig at 'serial winners' Liverpool and Tottenham

    Jose Mourinho aims early dig at 'serial winners' Liverpool and Tottenham

    United had been hoping to sign a centre-back before the deadline but hope has faded in recent days. He's one of the players that I have to speak to, to see how physically and mentally he feels.
    Abby Huntsman Expected to Join ‘The View’ at ABC

    Abby Huntsman Expected to Join ‘The View’ at ABC

    Fox News host Abby Huntsman is officially leaving the network to join The View , sources tell Mediaite . I'm not going to sit in a makeup chair for an hour and be like, "Then I'll go get the story".
  • Sky Sports pundit: Jose Mourinho ‘overachieved’ with Man United

    Sky Sports pundit: Jose Mourinho ‘overachieved’ with Man United

    He said on Thursday that some of Paul Pogba, Ashley Young, Fellaini and Jesse Lingard may yet be involved against Leicester. Manchester United host Leicester City on Friday night in the Premier League's curtain raising clash of the 2018/19 clash.
    Wake Forest assistant coach faces assault charges in man's death

    Wake Forest assistant coach faces assault charges in man's death

    The incident came after Szabo punched a resident who came outside amid the ruckus, according to The Post , which led Jones to act. He was released on his own recognizance and will return to court on October 2. "We won't be making any further comments".
    Israeli-Arab Committee launches legal steps against Nationality Law

    Israeli-Arab Committee launches legal steps against Nationality Law

    It has prompted particular outrage from Israel's Druze minority, whose members say the law's provisions render them second-class citizens.


Populaire

Valentino Rossi monte à 6000 en République tchèque — MotoGP
L'Italien Andrea Dovizioso (Ducati) a remporté dimanche Grand Prix de République tchèque, 10e manche du Championnat du monde. Sylvain Guintoli (Suzuki) a terminé 19e sur 20.

Bitcoin ETF ruling delayed, cryptocurrency market plunges
Goldman Sachs Group Inc.is considering a plan to offer custody for crypto funds, people with knowledge of the matter said. Chamber of Digital Commerce President Perianne Boring on the outlook for bitcoin and regulation of cryptocurrency.

Elle annule ses concerts en Australie, ses fans s'inquiètent — Pink hospitalisée
Elle était censée donner un concert à Sydney le 3 août dernier, mais une infection pulmonaire l'a contrainte à annuler la date. Selon Live Nation , la popstar aurait été prise en charge à l'hôpital de Sydney après avoir souffert de déshydratation.

Le dernier film de Winnie l'Ourson interdit en Chine
A l'été 2017 les autorités avaient déjà fait supprimer toutes les photos de Winnie de l'application de messagerie WeChat. Utiliser une illustration de Winnie l'ourson en Chine s'apparente à une forme de contestation politique dorénavant.

Cash rate on hold for two years
The Australian dollar remains within the range that it has been in over the past two years. The Australian Dollar edged cautiously higher as RBA's Governor Philip Lowespoke.

Seahawks: Shaquem Griffin gets four tackles in first four snaps
Subscribe for a seven-day free trial to SI TV to watch a feature on Griffin's inspiring story . The Seahawks appear to have gotten a late-round steal, and a great story to root for to boot.

Louis Oosthuizen withdraws from PGA Championship
Per Golfweek's report, hackers left a message for the PGA staff, leaving the message, "Your network has been penetrated". Just before the start of the recent Professional Golf Association [PGA] Championship at Bellerive Country Club in St.

Teenager stuns Novak Djokovic in massive boilover
Nadal will face Stan Wawrinka in the round of 16 after the Swiss rallied to beat Hungarian Marton Fucsovics 1-6 7-6 (2) 7-6 (10). Nadal will face Stan Wawrinka of Switzerland, a 1-6, 7-6 (2), 7-6 (10) victor over Marton Fucsovics of Hungary.

Kourtney Kardashian steps out showing ex Younes Bendjima what he is missing
News. "We were both invited to Mexico for a mutual friend's birthday party with 13 other people ". He was seen hugging Jordan Ozuna , who has previously dated Justin Bieber and Tyga .

Cam Newton confronted Kelvin Benjamin in a heated pregame chat
It's not clear what they said to each other, but the interaction did not end in the friendliest of ways. Benjamin's comments with The Athletic brought the conflict into the spotlight.