Debenhams said this week that it could dispose of certain assets as it seeks to conserve cash and focus more intensely on fixing its core UK business, with analysts saying profitable Magasin du Nord could be sold.
House of Fraser's lenders have thrown it a lifeline with a conditional financing deal that is dependent on its CVA being voted through and on the £70 million cash injection from its future majority owner C.Banner.
The gradual recovery of the pound from its post-Brexit vote low in June 2016 is in danger of denting London's luxury tourist trade, according to Thierry Andretta, the CEO of luxury leathergoods specialist Mulberry.
The shock of the planned House of Fraser closures has been followed up by intense speculation with analysts debating the chances of the firm’s CVA being approved by its creditors, as well as HoF’s long-term prospects.
House of Fraser has revealed its CVA and the worst fears of its staff and landlords have been realised as it has confirmed that it wants to close 31 stores, including its longstanding flagship on London's Oxford Street.
House of Fraser kept everybody who is following the story of its CVA plans on tenterhooks Wednesday with the expected update not materialising by close of business but rumours suggested over half its stores will close.