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.
A key monthly UK retail report for June seems to show that British shoppers are still turning away from physical stores and that a slight recovery seen in June in year ago was just a flash in the pan.
Abercrombie & Fitch has entered into a global partnership with Sbe, the lifestyle and hospitality company behind nightclubs, hotels and restaurants such as SLS Hotels, Mondrian, Umami Burger and Doheny Room Skybar.
The Great, the Americana-influenced apparel brand created by Current/Elliott founders Emily Current and Meritt Elliott three years ago, has opened its first boutique in West Hollywood on Melrose Avenue.