In a short statement on Monday, French Connection confirmed what had been rumoured for some time with the company saying that it’s looking at its strategy options and one of those could include a sale.
House of Fraser is to get a new owner after calling in administrators Friday. A fast deal to buy a slimmed-down version of the chain had been on the cards with news Friday that retail tycoon Mike Ashley is now in charge.
House Fraser has a new owner, China's C. Banner, but despite the change, the company will still launch a CVA and plans to close some poorly performing stores as it works to reach "channel-agnostic" shoppers.
House of Fraser’s weak finances could be easing on reports that its potential new majority owner has a more than £1bn investment war chest and that the £15m cash infusion from its current owners could be added to.
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.