House of Fraser, Leamington Spa, UK, one of 31 stores due for closure. House of Fraser announces store closures, a Company Voluntary Arrangement, and a new majority owner in latest restructuring plan. Hundreds of jobs are at stake throughout the chain's 59 stores. CBanner, a Chinese retail business which owns Hamleys, will take a new 51% stake, with former Chinese majority shareholders Nanjing Cenbest retaining a minority share. Credit: Antony Nettle/Alamy Live News
House of Fraser announces store closures, a Company Voluntary Arrangement, and a new majority owner in latest restructuring plan. Hundreds of jobs are at stake throughout the chain's 59 stores. CBanner, a Chinese retail business which owns Hamleys, will take a new 51% stake, with former Chinese majority sharholders Nanjing Cenbest retaining a minority share. Many provincial stores such as Leamington Spa, Warwickshire, have suffered diminishing customer footfall for some time, with staff cutbacks, little investment, and very poor Christmas trading figures making their future look very uncertain. House of Fraser's CVA follows a similar pattern to that of Carpetright, Maplin, and ToysRUs. 2nd May 2018.
Size: 4695px × 3110px
Location: Leamington Spa, UK
Photo credit: © Antony Nettle / Alamy / Afripics
License: Licensed
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