The company released a statement revealing that “discussions with interested investors and its main secured creditors have not concluded in a solvent solution.”
Facing financial difficulties, the brand needs to secure funding by 20th August, in time for its £15 million bill to concessions at the end of the month.
With one of the UK’s oldest and biggest department stores set to close, can you still return your purchases?
While the company is still currently embroiled in discussions with investors, administrators have allowed the business to continue to trade, in store and online.
For those who have recently purchased from the House of Fraser website or in store, the good news is they can still return unwanted purchases.
On the House of Fraser website, the returns policy reads: “If you wish to exchange your item(s) you will need to visit a UK House of Fraser store within 28 days of receipt of your order.”
However, the store does also allow returns for items purchased online via couriers such as Collect +.
Collect + is a free service to use, with customers looking to make a return needing just to head to the Collect + website and create a returns label using their House of Fraser order number.
According to the website, returns made within 35 days will also be refunded, but onto an eVoucher.
The website reads: “If you return your purchase after this period [28 days] but within 35 days, you will be refunded with a House of Fraser eVoucher to the value of the returned items.
Despite stating that the store will continue to operate, the House of Fraser website is currently closed.
Not loading any content or allowing purchases, the website states: “We’re currently working hard to make some improvements to the website.
“Don’t worry, we will be back up and running as soon as possible. While we’re otherwise occupied, check out our social channels below to see what we’ve been up to.”
The company’s customer services telephone line is also currently closed, with the best option to make or enquire about returns at the moment being to head into a House of Fraser store.
The company is set to close 31 of its 59 stores next January – affecting 6,000 jobs – but is currently seeking funding to continue its survival.
House of Fraser currently employs 17,500, who now have their jobs at risk.
House of Fraser needs to receive the investment by the 20th August, as it is due to pay our more than £15 million to suppliers at the end of the month.
According to the Guardian, potential bidders include Mike Ashley, the owner of Sports Direct, Philip Day, the owner of Edinburgh Woollen Mill and restructuring expert Alteri.
Yesterday, House of Fraser told the Luxembourg stock exchange that “discussions continue” with potential investors.
House of Fraser stores to close
London Oxford Street
London King William Street