New Report Highlights House of Fraser's Mounting Debt to Brands
4 monthes ago - By WWD
LONDON - Trouble continues to mount at House of Fraser as a recent report by Ernst & Young, the professional services firm, cites that the retailer owes millions of pounds to its creditors, including major luxury brand partners.
The retail chain, which was bought on Friday morning by Sports Direct owner Mike Ashley, is indebted to a slew of retailers including Giorgio Armani, Mulberry and Kurt Geiger.
Kurt Geiger is owed 4.9 million pounds, Giorgio Armani 1.59 million pounds, Mulberry 2.4 million pounds, Warehouse 1.4 million pounds and J. Barbour 3 million pounds.
The news follows at the...
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House of Fraser creditors owed £484m
4 monthes ago - By Drapers
House of Fraser's unsecured non-preferential creditors, including suppliers, are thought to be owed around £484m, a report from administrator EY has shown.
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