Home Tags Administration
One of the UK’s biggest department stores collapsed — but was almost immediately rescued by a billionaire sports tycoon
EY, one of the "Big Four" accountants, have been appointed as administrators. House of Fraser, which employs 17,500 people across the UK, will continue to trading while EY tried to find a buyer for part or all of the business.
Maplin was hit by "a combination of impacts from sterling devaluation post-Brexit, a weak consumer environment and the withdrawal of credit insurance."
2017 saw an uptick in the number of shops going bust for the first time in five years, new data from Deloitte shows.
Jaeger collapsed in April with debts of over £80 million.
Collapsed fashion house Jaeger will repay just 2p for every pound it owes to its £50 million creditors
Unsecured creditors across the four trading companies which make up the brand are owed £49.17 million in total.