• One of the UK's biggest department stores collapsed - but was almost immediately rescued by a billionaire sports tycoon

    4 days ago - By Chron

    House of Fraser
    The 169-year-old UK department store House of Fraser fell into administration on Friday after failing to secure a rescue deal.
    Sports Direct, the sports retailer run by billionaire Mike Ashley, bought the chain almost immediately for a reported £90 million.
    Accountants EY had been appointed to find a buyer for a House of Fraser, which employs 17,500 people across the UK.
    LONDON - Beleaguered UK department store House of Fraser has reportedly been snapped up by Sports Direct just hours after collapsing into administration.
    House of Fraser said in a statement on Friday that...
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  • One of the UK's biggest department stores has collapsed into administration, putting 17,500 jobs on the line

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

    4 days ago - By Business Insider

    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...
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