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  • FIRST POST
    • sarah1972
    • By sarah1972 10th Aug 18, 7:41 AM
    • 13,234Posts
    • 41,803Thanks
    sarah1972
    0 WOW
    House of Fraser now calls in Administrators
    • #1
    • 10th Aug 18, 7:41 AM
    0 WOW
    House of Fraser now calls in Administrators 10th Aug 18 at 7:41 AM
    https://www.bbc.co.uk/news/business-45140874

    Department store chain House of Fraser is to appoint administrators after giving up the fight to save the business.
    In a statement, it said that talks with investors and creditors had "not concluded in a solvent solution".
    House of Fraser employs 17,500 people, including 11,500 concession staff.
    Its fate was sealed earlier this month, when Chinese firm C.banner pulled out of a rescue deal that would have brought much-needed investment.
    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.
    All 59 shops are set to open as usual on Friday, including 31 that have already been earmarked for closure as part of a restructuring agreement.
    House of Fraser: Five things that went wrong
    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."
    Chief executive Alex Williamson said: "We are hopeful that the current negotiations will shortly be concluded. An acquisition of the 169-year-old retail business will see House of Fraser regain stability, certainty and financial strength.
    "In the two weeks since the Cenbest and C.banner transaction ceased, the directors have brought forward a number of potential buyers and the group's financial advisers have run a comprehensive M&A process to identify and then develop other third-party interest that has culminated in the senior secured creditors leading negotiations with parties at a critical pace."
    Chairman Frank Slevin said: "This has been an extraordinarily challenging six months in which the business has delivered so many critical elements of the turnaround plan.
    "Despite the very recent termination of the transaction between Cenbest and C.banner, I am confident House of Fraser is close to securing its future.
    I'm a Board Guide on all of the Shopping & Freebies Boards http://forums.moneysavingexpert.com/forumdisplay.php?f=5
    I volunteer to help get your forum questions answered and keep the forum running smoothly. Board guides are not moderators and don't read every post. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com (its not part of my role to deal with reportable posts). Any views are mine and not the official line of MoneySavingExpert.com
Page 1
    • kazwookie
    • By kazwookie 10th Aug 18, 8:15 AM
    • 9,870 Posts
    • 123,764 Thanks
    kazwookie
    • #2
    • 10th Aug 18, 8:15 AM
    • #2
    • 10th Aug 18, 8:15 AM
    There have been rumblings of this happening for about 2 to 3 months.

    Yet another nail in the coffin of the high street. (IMO)
    Sun, Sea
    Slinky start date 29.01.18 28 to go / -14 so far and counting!!
    • FOFI
    • By FOFI 10th Aug 18, 8:21 AM
    • 4 Posts
    • 0 Thanks
    FOFI
    • #3
    • 10th Aug 18, 8:21 AM
    Will my HoF vouchers still be valid?
    • #3
    • 10th Aug 18, 8:21 AM
    I have 50.00 of vouchers i plan to use tomorrow will they still be accepted?
    • sarah1972
    • By sarah1972 10th Aug 18, 11:46 AM
    • 13,234 Posts
    • 41,803 Thanks
    sarah1972
    • #4
    • 10th Aug 18, 11:46 AM
    • #4
    • 10th Aug 18, 11:46 AM
    I have 50.00 of vouchers i plan to use tomorrow will they still be accepted?
    Originally posted by FOFI
    Yes, use it quickly https://www.moneysavingexpert.com/news/shopping/2018/08/house-of-fraser-falls-into-administration?utm_content=1533893095&utm_medium=s ocial&utm_source=multiple
    I'm a Board Guide on all of the Shopping & Freebies Boards http://forums.moneysavingexpert.com/forumdisplay.php?f=5
    I volunteer to help get your forum questions answered and keep the forum running smoothly. Board guides are not moderators and don't read every post. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com (its not part of my role to deal with reportable posts). Any views are mine and not the official line of MoneySavingExpert.com
    • SJAG
    • By SJAG 10th Aug 18, 12:23 PM
    • 2 Posts
    • 0 Thanks
    SJAG
    • #5
    • 10th Aug 18, 12:23 PM
    • #5
    • 10th Aug 18, 12:23 PM
    Unfortunately we have unused vouchers that we received as a wedding present. HOF are refusing to take these this morning.

    Seemingly the staff were briefed before opening that they were not to accept them which is clearly different to what they have told the team/MSE journalist in the above link.
    • sarah1972
    • By sarah1972 10th Aug 18, 12:38 PM
    • 13,234 Posts
    • 41,803 Thanks
    sarah1972
    • #6
    • 10th Aug 18, 12:38 PM
    • #6
    • 10th Aug 18, 12:38 PM
    Unfortunately we have unused vouchers that we received as a wedding present. HOF are refusing to take these this morning.

    Seemingly the staff were briefed before opening that they were not to accept them which is clearly different to what they have told the team/MSE journalist in the above link.
    Originally posted by SJAG
    Thanks for letting us know, I have messaged the forum team to make them aware.
    I'm a Board Guide on all of the Shopping & Freebies Boards http://forums.moneysavingexpert.com/forumdisplay.php?f=5
    I volunteer to help get your forum questions answered and keep the forum running smoothly. Board guides are not moderators and don't read every post. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com (its not part of my role to deal with reportable posts). Any views are mine and not the official line of MoneySavingExpert.com
    • CHRISSYG
    • By CHRISSYG 10th Aug 18, 12:43 PM
    • 5,730 Posts
    • 16,516 Thanks
    CHRISSYG
    • #7
    • 10th Aug 18, 12:43 PM
    • #7
    • 10th Aug 18, 12:43 PM
    Looks like its been bought by Mike Ashley [sports direct owner ]
    Karma bus the most satisfying ride in town
    • FOFI
    • By FOFI 10th Aug 18, 4:50 PM
    • 4 Posts
    • 0 Thanks
    FOFI
    • #8
    • 10th Aug 18, 4:50 PM
    • #8
    • 10th Aug 18, 4:50 PM
    Hi,
    I managed to use mine online this afternoon, they were refused this morning, but are now taking them . they couldn't confirm when I messaged the re instore use.
    • gardner1
    • By gardner1 10th Aug 18, 4:57 PM
    • 2,549 Posts
    • 3,821 Thanks
    gardner1
    • #9
    • 10th Aug 18, 4:57 PM
    • #9
    • 10th Aug 18, 4:57 PM
    So Fat Mike has taken them over which is good news for most of the staff.....but its a bit like selling your soul to the devil
    • FOFI
    • By FOFI 10th Aug 18, 5:02 PM
    • 4 Posts
    • 0 Thanks
    FOFI
    Unfortunately we have unused vouchers that we received as a wedding present. HOF are refusing to take these this morning.

    Seemingly the staff were briefed before opening that they were not to accept them which is clearly different to what they have told the team/MSE journalist in the above link.
    Originally posted by SJAG
    try again now online! I managed to use mine, but the person I spoke to couldn't confirm that they were accepting them in store!
    • SJAG
    • By SJAG 10th Aug 18, 5:29 PM
    • 2 Posts
    • 0 Thanks
    SJAG
    It went through online after half 2. Will see if goods appear. Just chose anything in the hope that physical products will be easily exchanged for other physical products in store.
    • gardner1
    • By gardner1 10th Aug 18, 7:43 PM
    • 2,549 Posts
    • 3,821 Thanks
    gardner1
    He's probably used 90M of Newcastle's TV money to buy them now i know why we haven't signed a decent player
    • DCFC79
    • By DCFC79 10th Aug 18, 8:40 PM
    • 32,337 Posts
    • 20,338 Thanks
    DCFC79
    He's probably used 90M of Newcastle's TV money to buy them now i know why we haven't signed a decent player
    Originally posted by gardner1
    Lets see what happens this season, could be a touch and go season for them.
    The sooner he sells the club the better.
    • FOFI
    • By FOFI 14th Aug 18, 8:56 AM
    • 4 Posts
    • 0 Thanks
    FOFI
    update re voucher used on line
    My order is still sitting in placed and when i used the I've chat line they said- wait for updates- not hopeful now after being naive enough to think all was ok when they accepted them on Friday................
    Also they have taken the money from my credit card via PayPal on Friday.
    Last edited by FOFI; 14-08-2018 at 9:02 AM. Reason: update re payment
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