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.
Abercrombie & Fitch and Sean “Diddy” Combs’ clothing were among companies sourcing from Bangladesh that had failed to sign a new accord for the safety of millions of factory workers as it took effect on Friday.
The company is leaving its home in Langholm in July as it said its new premises in Carlisle will be more accessible for its partners. The current head office will be transformed into a heritage centre.
The group has acquired suit company Berwin & Berwin out of administration, adding more premium fashion brands to its growing portfolio as it continues to build the retail mix for its Days department store chain.
The bidders for Oasis, Coast and Warehouse are reported to include Philip Day, Foschini, Alteri and Truwowrths, but they are believed to have offered less than half the £100m the trio's owners had wanted.
Retail entrepreneur Philip Day has confirmed he is the mystery buyer of Jaeger. The billionaire Edinburgh Woollen Mill owner revealed the news as he opened the first of what will be a new chain of UK department stores.
The administrators of failed fashion business Jaeger delivered bad news Tuesday saying they would close 20 of its stores and cuts 253 jobs as they continue to seek a solution that can salvage parts of the business.