Home / Knowledge / News / Fashion / UK House of Fraser seeks restructuring, to close 31 stores
UK House of Fraser seeks restructuring, to close 31 stores
Jun '18
Courtesy: House of Fraser
Courtesy: House of Fraser
House of Fraser recently filed, in a British court, proposals for company voluntary arrangements (CVAs) that are key to its significant restructuring, without which the company does not have a viable future. The proposals follow the recent announcement by C.banner to acquire a 51 per cent stake in the group and its intention to introduce significant new capital.

Following a comprehensive review of the group’s entire property portfolio, its directors have identified 31 stores out of 59 leased stores across the United Kingdom and Ireland for closure as its property portfolio at present is unsustainable, according to a press release from the company.

As part of this CVA process, the company also proposes to relocate its Baker Street head office and the Granite House office in Glasgow to new locations to reduce costs and secure its future.

Pending approval of the CVAs, it is anticipated that the stores scheduled for closure will remain open until early 2019.

If this process is approved, it will affect up to 2,000 House of Fraser employees and a further 4,000 brand and concession partners. (DS)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: Nine West

Fashion | On 17th Jun 2018

ABG wins bid in Nine West Holdings auction

Authentic Brands Group (ABG), owner of a global portfolio of...

Courtesy: Kreussler

Textiles | On 17th Jun 2018

USDA certifies Kreussler's solvent as biobased

The US Department of Agriculture (USDA) has certified Kreussler's...

Courtesy: ITUC

Textiles | On 17th Jun 2018

Democratic space shrink & corporate greed are rising: ITUC

Shrinking democratic space for working people and unchecked corporate ...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Janak Dhamanwala & Sunil Dhamanwala

Moving towards sustainability is also a social change

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Amiben Shroff

From its modest beginning in the late 1960s, Shrujan has grown into a...

Rupa Sood and Sharan Apparao

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search