It is being suggested that Philip Day could be looking to mount a bid for House of Fraser. Day recently opened a department store housing “concessions” for some of his stable of brands which include Austin Reed, Edinburgh Woollen Mill, Jaeger and Ponden Mill. There would appear to be considerable logic for Day in assuming control of House of Fraser, perhaps more so than for Mike Ashley, whose original bid for the department store chain was rejected in favour of the deal with Sanpower.
Now a matter of considerable urgency, House of Fraser directors and investors will need to move at speed to agree terms if they are to avoid the very real risk of the business collapsing.
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