House of Fraser
- House of Fraser has held cash talks with a fund that specialises in distressed retailers.
- The department store’s worried lenders have called in EY to assess the business.
- Next warned last week that the High Street is facing the toughest trading conditions in 25 years.
LONDON — British department store House of Fraser is facing a battle for survival amid a funding crunch.
Sky News reported late on Friday that House of Fraser’s lenders have appointed accountants EY to advise the company on strategy. The Sunday Times then reported that the department store asked for an emergency £40 million loan from Alteri Investors, a fund that specialises in struggling retailers. The Telegraph reports that these talks collapsed because House of Fraser had already staked all of its core assets as collateral in other deals.See the rest of the story at Business Insider
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