Potential rescue deal for House of Fraser

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Potential rescue deal for House of Fraser

It's been reported that the retail tycoon Philip Day has today been examining a potential rescue deal for House of Fraser.

Landlords have dropped a legal challenge against House of Fraser's plan to axe stores using a Company Voluntary Arrangement — a move that allows distressed businesses to quit stores or seek rent cuts.

That means the retailer can press ahead with proposals to close 31 of its 59 shops.

Rob Chapman, from Founders Intelligence explained more. 

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