News has broken that House of Fraser is seeking to close 31 out of its stable of 59 UK and Ireland stores in its CVA proposals. The retailer also plans to relocate its London head office and Glasgow office to less expensive locations. Consultation on the CVA proposals which were filed with the Court of Session in Edinburgh on 6th June will take place over the next 17 days with House of Fraser seeking approval from its creditors on June 22nd.
In the meantime the business will continue to trade from its stores and website. If approved, the CVA will see around 2000 House of Fraser employees lose their jobs along with a further 4000 brand and concession staff who work in the stores earmarked for closure.
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