HoF angers Sports Direct for finding new owner over CVA

Victor Jimenez

May 08, 2018 06:00 pm

sale — London, United Kingdom. 21st December 2013 -- Christmas shoppers hunt for bargains and sales on the busiest retail day of the year known as panic Saturday. -- Thousands of Christmas shoppers filled Oxford Street in London despite the bad weather on the busiest retail day of the year, known as panic Saturday. Shoppers hunted for bargains and sales offered by department stores and shops. Christmas Shoppers Fill Oxford Street on Panic Saturday | Amer Ghazzal / Demotix/Demotix/Press Association Images

House of Fraser, the department store chain, has joined the trail of UK high yield retailers that have turned to company voluntary arrangements (CVAs) to deal with financial difficulties. But this time, the borrower has also found a new owner, a development its 11% shareholder Sports Direct is threatening to block in court.

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Victor Jimenez