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Chief Bakes

BBC: House of Fraser calls in administrators

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Chief Bakes
  • 10 August 2018
House of Fraser Image copyright Getty Images

Department store chain House of Fraser is to appoint administrators after giving up the fight to save the business.

In a statement, it said that talks with investors and creditors had "not concluded in a solvent solution".

House of Fraser employs 17,500 people, including 11,500 concession staff.

Its fate was sealed earlier this month, when Chinese firm C.banner pulled out of a rescue deal that would have brought much-needed investment.

House of Fraser said administrators Ernst & Young had confirmed that the business would continue trading, including all stores and offices, while they attempted to complete a sale.

All 59 shops are set to open as usual on Friday, including 31 that have already been earmarked for closure as part of a restructuring agreement.

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