House of Fraser's future in doubt as business calls in administrators
Friday 10th August 2018
House of Fraser has called in administrators after giving up the fight to save the business, putting its Maidstone branch at serious risk of closure.
The chain said talks with investors and creditors had "not concluded in a solvent solution".
However, all 59 shops - including those at Fremlin Walk and Bluewater - are operating as usual.
There are hopes that Mike Astley of Sports Direct might yet throw a lifeline to the ailing business.
House of Fraser said administrators Ernst & Young had confirmed that the business would continue trading, including all stores and offices, while they attempted to complete a sale.
The firm said: "Significant progress has been made towards completing a sale of the group's business and assets.
"The proposed administrators are expected to continue to progress those discussions with a view to concluding a transaction shortly after their appointment."
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