On June 22, creditors will vote on the retailer’s proposed rescue plan, which includes company voluntary arrangements.
In May, Nanjing Cenbest, the China-based company that owns Fraser, achieved a conditional agreement to sell a 51 percent stake of the company to C.banner, the China-based company that owns Hamley’s. The sale is contingent on the restricting plan being approved.
House of Fraser was founded more than 170 years ago and became a retail giant with more than 100 department stores including luxury department store, Harrods.
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