House of Fraser completes sale to Chinese department store for £480m
House of Fraser parent company Highland Group Holdings has today completed the sale of 89 per cent of its shares to Chinese department giant Nanjing Cenbest for a value of approximately £480m.
The deal will see the international brands sold through House of Fraser brought to Nanjing Cenbest’s chain of stores, while the Chinese retail giant will develop House of Fraser’s global footprint.
Several markets including China have already been pinpointed as the next countries for expansion of the department store brand.
House of Fraser executive chairman, Don McCarthy, who has today stepped down from his role, said it is an Read full story ›
Source: The Drum
