×
63
Fashion Jobs
H&M
SEO Specialist Global Media Team - h&m Marketing & Communication
Permanent · Stockholm
H&M
Product Compliance Specialist Within Physical Properties
Permanent · Stockholm
H&M
Product Labelling Specialist, Global Product Compliance Department
Permanent · Stockholm
H&M
Business Controller to Assortment
Permanent · Stockholm
H&M
Product Compliance Coordinator For Cosmetic And Chemical External Branded Products
Permanent · Stockholm
H&M
Buying Student Placement Fall 2020
Permanent · Stockholm
H&M
Art Buyer | h&m Studios
Permanent · Stockholm
H&M
HR Specialist h&m - Health And Work Environment
Permanent · Eskilstuna
H&M
HR Generalist h&m
Permanent · Eskilstuna
H&M
Fashion or Print Design Internship 2020 – 21 (For 2020 Graduates Only)
Internship · Stockholm
H&M
Content Responsible h&m Backstage For h&m Marketing & Communications
Internship · Stockholm
HOLLISTER CO
Retail Manager (Manager in Training) - Hollister Emporia - Full Time
Permanent · MALMÖ
H&M
Integration Solution Lead
Permanent · STOCKHOLM
H&M
Customer Service Agent - Finnish
Permanent · Borås
H&M
External Brand Coordinator
Permanent · Stockholm
H&M
External Brand Expansion Coordinator
Permanent · Stockholm
H&M
Print Design Assistant - h&m Home
Permanent · Stockholm
H&M
Product Designer - h&m Home - 6 Months Fixed Term Contract With The Possibility of Prolongation - From February 2020
Fixed-term · Stockholm
H&M
Cafémedarbetare
Permanent · Stockholm
H&M
Facility Manager Sweden
Permanent · Stockholm
H&M
Creative Lead, h&m Marketing & Communication
Permanent · Stockholm
H&M
Area Controller Trainee to h&m in Stockholm
Internship · Stockholm

Sports Direct slams House of Fraser store closure claims

Published
today Oct 7, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

House of Fraser’s owner Sports Direct vehemently denied a report on Monday that most stores will close after the Christmas trading period. It responded to a report in the Telegraph that had suggested HoF was preparing to exit most of its stores.


Fashion Network



On Monday, Sports Direct said: “The Telegraph article refers to ‘fresh papers from administrators EY’, which is the progress report for the administration of HFL Realisations Limited (formerly House of Fraser Limited). This refers to a number of leases being surrendered for £nil and a small number of property leases remaining to be dealt with. Please note that the surrenders relate to the leases between the landlords and the old House of Fraser company and have nothing to do with the Sports Direct Group including the new House of Fraser Limited.”

It added that the firm has entered into new leases on the majority of House of Fraser stores and “the EY report relates to an entirely different company. Sports Direct continues to work with landlords across the whole of the remaining House of Fraser estate.”

It also bemoaned the fact that “as a result of this erroneous misreading of the administrators report from EY, staff across the HoF group have today woken up to a false sense of job insecurity.  Sports Direct is working rapidly on our ongoing investment programme with the HoF brand and it is therefore totally incorrect to assume that there will be large numbers of store closures in the new year.  We are taking legal advice with regards to this unbelievable level of misreporting.”

Mike Ashley's company acquired the failed chain last year for £90 million and promise to keep as many of the stores open as possible, despite previous management having been preparing to close more than half of them. But after negotiating initial low- or no-rent deals, the retail entrepreneur admitted in Sports Direct’s most recent results announcement that House of Fraser was a problem purchase and wouldn’t be easy to turn around.

Ashley has recently unveiled a new, more upmarket strategy that would see the launch of an upscale department store chain, called simply Frasers, around the UK. However, the plan involves only five HoF sites.

Copyright © 2019 FashionNetwork.com All rights reserved.