Private equity firm Catalyst Capital Group Inc is seeking financing for a bid for Saks Fifth Avenue owner Hudson’s Bay Co that would top a C$1.9 billion ($1.4 billion) deal the retailer reached last month.
House of Fraser boss Mike Ashley’s wish to keep open as many of the beleaguered department store chain’s branches as possible could come to nothing with reports that a raft of new closures are about to be announced.
The long-running saga around House of Fraser stores continues to rumble on and news emerged on Friday that its new owner Sports Direct is to acquire the freehold of the Frasers building in Glasgow in a £95m deal.
House of Fraser's London flagship is no longer set for closure, new owner Sports Direct said Tuesday, with the store that had been a surprise casualty on the retailer’s closure list to be "fully operational".
The collapse of Sears Canada, leaving vacant stores across the country, could actually boost profits for many mall owners who will be able to replace the retailer with tenants who can afford higher rents.