Update 10/08 - House of Fraser has now called in administrators

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Found 7th Jun
Another update, Mike Ashley HAS Purchased HOF for just 90m, although the fate of 17,500 people who work for the company are unclear.

news.sky.com/sto…296


Futher Update, Reports saying Mike Ashley, owner of Sports Direct, is close to striking a deal to buy House Of Fraser.

Update 10/08

House of Fraser has called in administrators after last-ditch talks with investors and creditors failed

House of Fraser has called in administrators after last-ditch talks with investors and creditors failed.

The fate of 17,500 staff members who work for HoF and the concessions in its stores hangs in the balance.

Sky's City editor Mark Kleinman was first to reveal administrators were to be appointed today after talks with three potential backers failed to find a solution to save the 169-year-old department store chain.

In a statement to the Luxembourg Stock Exchange, where the company's bonds are listed, HoF said it the administrator Ernst & Young would continue those talks and a sale of the retailer's business and assets.

news.sky.com/sto…168




Another ton of job losses

Department store group House of Fraser has been given approval by creditors to close 31 stores which will result in up to 6,000 job losses

''The department store chain will undertake the closures through a Company Voluntary Arrangement (CVA), which will also allow it to secure rent reductions on its remaining shops.

Closures will affect up to 2,000 House of Fraser staff and a further 4,000 across brands and concessions.''

news.sky.com/sto…309 (https://news.sky.com/story/house-of-fraser-to-close-31-stores-with-6000-job-losses-11413309)
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Another blow for the High Street HOF looking to cut around 5000-6000 jobs and to close half it's stores

''House of Fraser planned to close 31 of its 59 stores across the UK and Ireland by early 2019 and relocate its main offices to save cash.''


''It said those changes would affect 2,000 of the 5,000 people it employs directly and 4,000 brand and concession partner staff who had already been informed''

No list of stores as of yet, when they're annouced i'll update

Source news.sky.com/sto…143
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22 Comments
The high street of the future is going to look very different to what we have known.
List of stores below. Also reports that staff were not told before the list went out. My local is affected and staff there found out from BBC news!

Altrincham, Aylesbury, Birkenhead, Birmingham, Bournemouth, Camberley, Cardiff, Carlisle, Chichester, Cirencester, Cwmbran, Darlington, Doncaster, Edinburgh Frasers, Epsom, Grimsby, High Wycombe, Hull, Leamington Spa, Lincoln, London Oxford Street, London King Willam Street, Middlesbrough, Milton Keynes, Plymouth, Shrewsbury, Skipton, Swindon, Telford, Wolverhampton and Worcester.
Im loving these changes, shame about the job losses though. Lets hope local councils allow affordable, protected homes on these former sites (where possible)!
Edited by: "groenleader" 7th Jun
groenleader17 m ago

Im loving these changes, shame about the job losses though. Lets hope …Im loving these changes, shame about the job losses though. Lets hope local councils allow affordable, protected homes on these former sites (where possible)!


Have seen 3 former commercial premises being converted to residential recently. So its slowly happening, but still so many empty shops in the centre.

Not sure of the status though and if they are affordable or not.
What is most shocking is Oxford Street if u can’t survive there your in trouble!
ASongOfFireAndIce27 m ago

What is most shocking is Oxford Street if u can’t survive there your in t …What is most shocking is Oxford Street if u can’t survive there your in trouble!



Perhaps, out of the three locations in London, the branch in Victoria is either the busiest, or has cheaper trading costs.
ASongOfFireAndIce1 h, 29 m ago

What is most shocking is Oxford Street if u can’t survive there your in t …What is most shocking is Oxford Street if u can’t survive there your in trouble!



HoF deal to stay a float is to reduce costs, mostly in rent and that one has the biggest rent, but not enough profit to off set it.
DKLS1 h, 38 m ago

Have seen 3 former commercial premises being converted to residential …Have seen 3 former commercial premises being converted to residential recently. So its slowly happening, but still so many empty shops in the centre.Not sure of the status though and if they are affordable or not.



That's good, but all the homes that are affordable should also have in the deeds, property to be let for 250 years in the deeds so they are not then used for profit by owners later. It will also reduce demand as only people who want to live there will buy them and thus help to control prices.
That is terrible news will make a big 'hole' in the high street here
have two relatives who used to work there.
DKLS5 h, 22 m ago

The high street of the future is going to look very different to what we …The high street of the future is going to look very different to what we have known.


Truism of the day
DKLS7 h, 24 m ago

The high street of the future is going to look very different to what we …The high street of the future is going to look very different to what we have known.



Is this a threat or a promise to the pedestrians?
Cr0m2 h, 15 m ago

Truism of the day



I think the only genuine and sincere truism is, "the commenter doesn't know".
CrashOverride22 h, 46 m ago

List of stores below. Also reports that staff were not told before the …List of stores below. Also reports that staff were not told before the list went out. My local is affected and staff there found out from BBC news!Altrincham, Aylesbury, Birkenhead, Birmingham, Bournemouth, Camberley, Cardiff, Carlisle, Chichester, Cirencester, Cwmbran, Darlington, Doncaster, Edinburgh Frasers, Epsom, Grimsby, High Wycombe, Hull, Leamington Spa, Lincoln, London Oxford Street, London King Willam Street, Middlesbrough, Milton Keynes, Plymouth, Shrewsbury, Skipton, Swindon, Telford, Wolverhampton and Worcester.


That's practically in all big cities
fanpages7th Jun

Perhaps, out of the three locations in London, the branch in Victoria is …Perhaps, out of the three locations in London, the branch in Victoria is either the busiest, or has cheaper trading costs.


The Victoria branch hasn't been very busy when I have been in there before - but I imagine the rent is significantly less than that for the Oxford Street branch.
ASongOfFireAndIce7th Jun

What is most shocking is Oxford Street if u can’t survive there your in t …What is most shocking is Oxford Street if u can’t survive there your in trouble!



fanpages7th Jun

Perhaps, out of the three locations in London, the branch in Victoria is …Perhaps, out of the three locations in London, the branch in Victoria is either the busiest, or has cheaper trading costs.



Syx1 h, 46 m ago

The Victoria branch hasn't been very busy when I have been in there before …The Victoria branch hasn't been very busy when I have been in there before - but I imagine the rent is significantly less than that for the Oxford Street branch.



That may well be true but without knowing the footfall at each of the other stores in London you cannot rely on one (or a few) isolated incidents at a single store as a useful statistic.
fanpages19 h, 8 m ago

That may well be true but without knowing the footfall at each of the …That may well be true but without knowing the footfall at each of the other stores in London you cannot rely on one (or a few) isolated incidents at a single store as a useful statistic.


Well I mean you're absolutely correct in terms of sample size but there must be a reason why the Oxford Street branch was closed over Victoria Street...
Well if he sells Newcastle United very quick (I seriously wish he would) he will have plenty to buy them out and he can get back to his shopping tactics as he has no clue about football.
WHAT annoys me the most he gas money to through into house of Fraser and other stores yet we cannot but buy players unless we SELL some and the summer window, there was around 20,000,000 surplus ( dint know how much is being paid to the loan players agents) that wasn't used from the sales of players, bet that will go towards buying house of Fraser instead.
kevin.wakeUdo8 m ago

Well if he sells Newcastle United very quick (I seriously wish he would) …Well if he sells Newcastle United very quick (I seriously wish he would) he will have plenty to buy them out and he can get back to his shopping tactics as he has no clue about football.WHAT annoys me the most he gas money to through into house of Fraser and other stores yet we cannot but buy players unless we SELL some and the summer window, there was around 20,000,000 surplus ( dint know how much is being paid to the loan players agents) that wasn't used from the sales of players, bet that will go towards buying house of Fraser instead.


yeah those fellas running about on the grass are so important vs the life changing potential job losses to thousands
brilly3 h, 43 m ago

yeah those fellas running about on the grass are so important vs the life …yeah those fellas running about on the grass are so important vs the life changing potential job losses to thousands


I must admit it was pretty staggering to read a bitch-fest from a Newcastle fan when scores of thousands of people are staring at unemployment and a British retail institution could be about to disappear. Talk about small-minded...
mike ashley bought it yesterday
House of Sports Direct.
david_wavid36 m ago

House of Sports Direct.


i was thinking 'not very funny, which idiot liked that?' then saw it was yourself
a double whammy right there
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