CVAs are ‘the new black’ in the UK this year but it seems that while House of Fraser is-on trend in this respect, it might struggle to get its CVA through as landlords prove uniquely resistant to its plans.
A minority shareholder of Britain’s House of Fraser, Sports Direct, is suing the department store chain to gain access to its business plan, after House of Fraser announced a major restructuring this week.
The prospects are looking grim for House of Fraser with news that the struggling retailer has called in advisors to look at its restructuring options, which means store closures could be on the horizon.
Britain’s JD Sports Fashion plans to look overseas for further growth after bucking a gloomy UK retail sector by boosting annual profit by a quarter, eyeing expansion in the U.S., Asia and other European markets.
JD Sports is riding high at the moment and that’s making it acquisition-hungry. The latest? US-based The Finish Line, with the company having entered a conditional (and game-changing) deal to buy it at the weekend.