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One of the UK’s biggest department stores has collapsed into administration, putting 17,500 jobs on the line





House of Fraser

  • 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 >>>

Source:: BusinessInsider.Com

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