House of Fraser rise to £44m loss ahead of Chinese takeover

The Guardian reports that House of Fraser’s parent group swung to a near £44m loss last year ahead of a deal to sell a 51% stake to the Chinese owner of Hamleys for £140m.

Documents filed at the Hong Kong stock exchange on Thursday by C.banner reveal that House of Fraser Group, which includes the department store chain’s two Chinese outlets, slumped from a £1.5m pretax profit in 2016 to a £43.9m loss last year. Read more….