Austin reed, boss’s day is tied to recovery application for house of Fraser

  • Austin reed, boss’s day is tied to recovery application for house of Fraser
    Independent.t. E.
    Billionaire Philip day is in the early stages of the potential offer for British retailer house of Fraser to save it from collapse, “sky news” reported on Thursday, citing sources.
    https://www.independent.ie/business/world/austin-reed-boss-day-linked-to-rescue-bid-for-house-of-fraser-37180134.html
    https://www.independent.ie/incoming/article37179871.ece/8ad8e/AUTOCROP/h342/PL35949901U.K.%20Consumer%20Co.jpg

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Billionaire Philip day is in the early stages of the potential offer for British retailer house of Fraser to save it from collapse, “sky news” reported on Thursday, citing sources.

This news comes a day after a rescue deal for house of Fraser was questioned after S. banner has canceled a planned fundraiser for your business, to become the largest shareholder of the Department store.

The day could not yet decide not to table a formal offer to buy house of Fraser, depending on diligence and discussions with the company “sky news” has reported, citing one source.

Press Secretary of the “Fraser house” declined to comment on the report and reiterated a statement on Wednesday that negotiations about other possible sources of investment continues and updates will be provided if required.

Press Secretary Dmitry the day also declined to comment.

Businessman Edinburgh woollen Mill Group owns the brands, including peacocks, Jaeger, and Austin reed.

House of Fraser has decided to close shops in parts of the rescue deal, and in June creditors approved a restructuring plan that will see 31 of the 59 stores closed in the beginning of next year, resulting in the loss of 6,000 jobs.

A string of UK retailers have either gone out of business or announced plans to close stores in recent months as they struggle with subdued consumer spending, rising costs for labor and higher taxes on business properties, as well as online competition. (Reuters)

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