House of Fraser CEO says store closures is 'unbelievably brutal'
Автор: Daily Mail World
Загружено: 2018-06-07
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The retailer has announced plans to shut 31 of its 59 stores across the UK and Ireland as part of a rescue deal. The company was bought by Chinese firm Sanpower for £480million in 2014. The firm is understood to have agreed a restructuring plan which will see all but its most modern stores, and those in large shopping centres, close. House of Fraser said the planned closures, which include its flagship Oxford Street store, come as part of a company voluntary arrangement (CVA) - a controversial insolvency procedure in vogue among struggling retailers. If the CVA is approved by landlords, it will affect up to 2,000 House of Fraser staff and a further 4,000 across brands and concessions.
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