CVAs are ‘the new black’ in the UK this year but it seems that while House of Fraser is-on trend in this respect, it might struggle to get its CVA through as landlords prove uniquely resistant to its plans.
The prospects are looking grim for House of Fraser with news that the struggling retailer has called in advisors to look at its restructuring options, which means store closures could be on the horizon.
Britain’s JD Sports Fashion plans to look overseas for further growth after bucking a gloomy UK retail sector by boosting annual profit by a quarter, eyeing expansion in the U.S., Asia and other European markets.
The store has been designed to pay homage to legendary music stars such as Heaven 17, The Human League, Joe Cocker and Def Leppard. The revamp follows a £60 million refurbishment of the shopping centre.
JD Sports is riding high at the moment and that’s making it acquisition-hungry. The latest? US-based The Finish Line, with the company having entered a conditional (and game-changing) deal to buy it at the weekend.
House of Fraser’s Chinese owner is planning to sell its majority stake in the under-performing department store chain to another Chinese entity, it confirmed on Tuesday. But it will keep a large holding in the retailer.
MySale Group has reported record sales and profitability for the half-year to December 31 with recent investment in its buy now, pay later option (called Ourpay) and its other tech updates helping to drive it forward.
Sportswear retailer Sports Direct has increased its stake in department store chain Debenhams to 29.7 percent and is seeking to extend its relationship with the firm to "a strategic partnership", it said on Friday.