House of fraser latest news 2018
Here are some of the latest news stories about House of Fraser from 2018:
- House of Fraser announces 31 store closures: In June 2018, House of Fraser announced that it would be closing 31 of its stores across the UK, putting around 6,000 jobs at risk. The closures were part of a major restructuring plan aimed at saving the struggling department store chain. (Source: BBC News)
- Mike Ashley's Sports Direct buys House of Fraser: In August 2018, Sports Direct International, the retail chain owned by Mike Ashley, acquired House of Fraser for £90 million. The deal included the purchase of the House of Fraser brand, its intellectual property, and 59 stores. (Source: The Guardian)
- House of Fraser to be rebranded as Sports Direct: In October 2018, it was announced that House of Fraser would be rebranded as Sports Direct, with the majority of its stores being converted into Sports Direct outlets. The rebranding was seen as a way to reduce costs and increase efficiency. (Source: The Telegraph)
- House of Fraser to close remaining stores: In November 2018, it was reported that House of Fraser would be closing its remaining stores, with the exception of a few flagship locations. The closures were expected to result in the loss of around 3,500 jobs. (Source: The Independent)
- House of Fraser's online business to be sold: In December 2018, it was announced that House of Fraser's online business would be sold to the Chinese retailer, Shandong Ruyi Technology Group. The deal was seen as a way to save the online business and preserve some of the brand's heritage. (Source: The Financial Times)
These were some of the major news stories about House of Fraser in 2018. The year was marked by significant changes and challenges for the department store chain, including store closures, job losses, and a major restructuring effort.