One of the UK’s biggest department stores has collapsed into administration, putting 17,500 jobs on the line
|08/10/2018||Posted by BusinessMediaguide.Com under General World News||
- The 169-year-old UK department store House of Fraser has fallen into administration after failing to secure a rescue deal.
- The Chinese-owned company has struggled with falling sales in recent years and now has debts larger than its assets.
- Accountants EY has been appointed to find a buyer for a business. Sports Direct billionaire Mike Ashley is said to be a front-runner.
- House of Fraser employs 17,500 people across the UK. Even if a buyer is found, some of these jobs could be at risk.
LONDON — Beleaguered UK department store House of Fraser on Friday called in administrators after failing in its attempts to read more >>>