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.
The legal action being brought by House of Fraser landlords is set to delay the struggling retailer’s CVA and means that the £70 million cash injection that the firm is getting from its new owner could be delayed too.
A casualty of Hammerson's change of direction (as well as the weak market for bricks and mortar stores) is the mall giant's plan for a massive expansion at Brent Cross that has now been indefinitely deferred.
In a first for South Korean investment in the UK, an investment group has acquired a retail park in the West Midlands for £175m, despite the generally unfavourable atmosphere for the UK bricks and mortar retail sector.