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Re: House of Fraser in trouble...
Quote:
Quote from Financial Times:
The UK arm of Toys R Us has collapsed into insolvency, putting thousands of jobs at risk just two months after the chain won creditor backing for a sweeping restructuring plan to tame its unmanageable rent bill.
Executives had been battling to raise cash to pay a tax liability that fell due this week, but the efforts collapsed after a number of private equity funds and restructuring specialists walked away.
Insolvency specialists at Moorfields have begun the process of closing its British operations, which employ nearly 3,000 people and has an estimated funding shortfall of at least £25m in its pension scheme.
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Apparently there's to be a fire sale in the closing stores so bag a bargain while you can.
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History is much like an endless waltz: The three beats of war, peace and revolution continue on forever.
However history will change with my coronation - Mariemaia Khushrenada
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