House of Fraser in Richmond is closing in September. Closing down signs have appeared at the department store in the town centre. Shoppers can get an extra 20% off purchases. The large building is owned by a company called Canadian and Arcadia.
More House of Fraser department stores will be closing in 2020, Sports Direct boss Mike Ashley has warned. The move comes after House of Fraser customers discovered that the retailer was back to selling fur products in November, after pledging not to use it in 2017.
In May 2018, the group entered a company voluntary arrangement, and in June the closure of 31 stores was announced. On 10 August 2018 Mike Ashley’s Sports Direct chain agreed to buy the business (stores, stock, brand) for £90 million after the chain went into administration earlier that day.
Mike Ashley’s Sports Direct has agreed to buy the House of Fraser department store chain for £90m. The deal was announced just hours after the 169-year-old chain went into administration when talks with its creditors failed to reach an agreement.
After collapsing into administration in August 2018, the retailer was acquired by Sports Direct (rebranded as Frasers Group in December 2019), fulfilling boss Mike Ashley’s ambitions of adding a department store business to his growing portfolio.
To return your item(s) bought in store for a credit note or where possible make an exchange , visit any House of Fraser store within 28 days of purchase. If your item is faulty, we will provide a full refund . Please provide a valid proof of purchase.
Plans to shut eight John Lewis stores – including Birmingham and Tamworth – have already been confirmed. The closures will see the loss of 1,300 jobs, on top of the closure of four Waitrose stores in a move which hit 124 jobs.
Frasers Group has reiterated a warning that a number of House of Fraser stores will be forced to shut down unless the government reforms the business rates system. Speaking at the company’s AGM today, chief financial officer Chris Wootton said the business rates scheme needed to be “fit for purpose”.
Debenhams stores are set to close after the failure of last-ditch efforts to rescue the ailing store chain. It means all 12,000 employees are likely to lose their jobs when the chain’s 124 shops cease trading. Debenhams itself had been in administration since April.
By 2017, the retailer had increased its net worth to 3.7 million pounds .
USC originally stood for ‘United Sports Corporation’ and was founded by Angus Morrison and David Douglas. In July 2011, Tom Hunter sold 80% of USC to Mike Ashley’s Sports Direct chain. In early 2012, Sports Direct bought the remaining 20% and now fully owns the business.
More House of Fraser closures are “anticipated” and the department store chain’s owner warned of continuing job losses on the High Street. The chain, part of Mike Ashley’s Frasers Group that owns Sport Direct, has closed about 10 of the 59 stores bought out of administration in 2018.
Frasers Group plc (formerly Sports Direct International plc) is a British retail group, named after its ownership of British department store chain, House of Fraser . The company is best known for trading predominantly under the Sports Direct brand, which operates in both physical outlets and online.
Billionaire businessman Mike Ashley has bought the gym and fitness business from his rival and long-time critic Dave Whelan after they fell into administration. Mr Ashley’s Frasers Group said it would buy 46 leisure clubs and 31 retail outlets from DW Sports Fitness for £37m to merge with its own business.