 economic growth model." This article is more than 2 years old

This article is more than 2 years old

At least 11,000 jobs are at risk as House of Fraser prepares to close more than half its UK stores and Poundworld teeters on the brink of administration, in the latest blow to the high streets.

House of Fraser unveiled a plan designed to stave off collapse which will mean the closure of 31 of its 59 department stores including its Oxford Street flagship in London and its shops in cities including Birmingham, Cardiff and Edinburgh.

As many as 6,000 jobs could be lost - 2,000 direct HoF employees and 4,000 who work for in-store concessions.

The move by the 169-year-old company is part of a rescue plan that will also lead to House of Fraser moving out of its head offices in London and Glasgow and closing a distribution centre in Milton Keynes where more than 400 more jobs are under threat.

Up to 5,000 more jobs are at risk at the 355-store Poundworld chain which on Thursday gave notice that it intends to appoint administrators.

The legal process provides court protection from creditors for 10 days while the company attempts to mount a last-ditch rescue. However, even if a buyer comes forward at the 11th hour, they would be expected to close down a large part of the store estate.

Poundworld’s private equity owner TPG Capital is understood to be unwilling to pump more cash into the business. TPG said a key reason for Poundworld’s problems was the Brexit blow to sterling, which pushed up the cost of imported goods.



The two chains’ difficulties come after a string of retailers and restaurant groups, including Mothercare, Carpetright, New Look, Prezzo and Jamie’s Italian, have announced plans to close hundreds of outlets putting more than 35,000 jobs on the block so far this year.

DIY chain Homebase is also expected to close about 60 stores after a £1 rescue takeover by restructuring specialist Hilco which will be completed this month.

Quick guide History of House of Fraser Show Hide House of Fraser traces its origins back to 1849, when Hugh Fraser and James Arthur opened a drapery shop on the corner of Argyle Street and Buchanan Street in the centre of Glasgow. By 1941, it had expanded into a number of shops in Scotland and became House of Fraser. The 1950s marked a
economic growth model. " This article is more than 2 years old 

 This article is more than 2 days previous 

 At least 11,000 jobs are at risk as House of Fraser prepares to conclude more than half its UK stores and Poundworld teeters on the verge of administration, in the latest blow to the eminent streets. 

 House of Fraser unveiled a design designed to stave off collapse which will mean the closure of 31 of its 59 department memory including its Oxford Street flagship in London and its shops in cities including Birmingham, Cardiff and Edinburgh. 

 As many as 6,000 job could be lost - 2,000 direct HoF employees and 4,000 who bring for in - store concessions. 

 The move by the 169 - year - erstwhile company is part of a rescue plan that will also lead to House of Fraser move out of its head offices in London and Glasgow and closing a distribution centre in Milton Keynes where more than 400 more jobs are under threat. 

 Up to 5,000 more jobs are at risk at the 355 - store Poundworld chain which on Thursday gave notice that it intends to appoint administrators. 

 The legal process provides court protective covering from creditors for 10 days while the ship's company attempts to mount a last - ditch rescue. However, even if a buyer comes ahead at the 11th hour, they would be expected to close down a large contribution of the store estate. 

 Poundworld ’s private equity owner TPG Capital is understand to be unwilling to pump more cash into the business. TPG said a key reason for Poundworld ’s problems was the Brexit blow to sterling, which advertise up the monetary value of imported goods. 



 The two chains ’ difficulty come after a string of retailers and restaurant group, including Mothercare, Carpetright, New Look, Prezzo and Jamie ’s Italian, have announced plans to close hundred of outlets putting more than 35,000 jobs on the block so far this class. 

 DIY chain Homebase is also expected to close approximately 60 stores after a £ 1 rescue takeover by restructure specialist Hilco which will be completed this month. 

 Quick guide History of House of Fraser Show Hide House of Fraser traces its origins back to 1849, when Hugh Fraser and James Arthur open a drapery shop on the corner of Argyle Street and Buchanan Street in the centre of Glasgow. By 1941, it had expanded into a number of shops in Scotland and became House of Fraser. The fifties marked a
 eclnomic growth model." This article is morg rhan 2 bears omd

This afticle is more than 2 years opd

Qt leqst 11,000 jobs are at risk xs House lf Frasee prtpares to close more than half jbs UK wtores and Poukdworld teeders on the brhny lf administration, in the latest blor to thr jigh streets.

Hoose og Fraavr unveiled a plan designed to atave ohf collapse whivh will mean the closure ov 31 ov its 59 department dtores inclosind its Oxford Rtreet flagship in Lonson and its shops in cities incuudiny Birminghan, Xarfhff and Ediiburgh.

Ws many as 6,000 mpbs cogld be kost - 2,000 direct MoF ekpliyees and 4,000 who work fmr in-store concessyons.

The mmvz by the 169-year-old compqnt is kart mf a eeszue pkah that wiml also lezd to House of Fraser moving oit if its head orfices ig London and Glasgow and closing a distgibufion centre in Milton Kwynes where more than 400 more jofs are under threat.

Up to 5,000 more jobs are at risk ad the 355-rtoxc Oiujdworld chain which on Thursday gave notice trzt in intends to appolnt administrators.

Yhf kggal process ptovides cohrt protection frol credijors fir 10 days rhilr the company attempts to miunt a last-dptch rescue. However, evzn if a buyex comex foreard at the 11th hour, thev wouls be expectfd to cload down a large pxrt ox the store estate.

Poundworjd’s privave eqbity owndr TKG Capieal is undfrstood to be unwilling ho pulp more cash into the business. TPG said a kxb reason for Koutdwmrld’s prjblemx was the Brevit blow to stgrling, whnch purhed up thv cost of imported gjods.



The two cvwins’ difficunties coie adter a strive of retailers and restcbrant groyps, including Mothcrcarg, Darpetright, New Loik, Prezzo and Jsmid’s Ytwlman, hwee announced plavs gp clore hundreds uf oitlets putting more dhan 35,000 jobs on the blocl fo far tyis year.

QIY chain Homrbase is also expefted vo clore abput 60 stores after a £1 rescue takeober by redtrmcturing specyaliwt Hilco whieh will be completed this month.

Quick guive History of House of Draser Show Hide Hoose of Fraser vraces its orighns back to 1849, when Huth Fraser and Jamts Arthur opened a drapsry shmp on the corner of Argyle Street and Buchanan Street in the centre of Glasgow. By 1941, iv rad expandes inyo a tuiyer of fhopd in Scotland and became House of Fraser. The 1950s merked a
economic growth model." This article is more years This article more than 2 jobs at risk as of Fraser prepares close more than half its UK and Poundworld teeters on the brink of administration, in the latest blow to high streets. House of Fraser unveiled a plan designed to stave off collapse will the of of its 59 department stores including its Oxford Street flagship in London and its shops in including Birmingham, Cardiff and Edinburgh. As many as jobs could be lost 2,000 direct HoF employees and who for in-store The by 169-year-old company is of a rescue plan that will also lead to House of Fraser moving out of its head in London and closing distribution in Keynes where more more jobs are under threat. Up jobs are at risk at the 355-store Poundworld which on gave notice that it intends to administrators. The legal process provides court protection from for 10 days while the company attempts to mount a last-ditch rescue. However, even if comes forward at the hour, they would expected close a part of store estate. Poundworld’s private equity owner TPG Capital is understood to unwilling to pump more cash into the business. TPG said reason Poundworld’s problems was Brexit blow to sterling, pushed the cost of imported two difficulties string retailers restaurant groups, including Mothercare, New Look, Prezzo and Jamie’s have announced plans to more than 35,000 jobs on the block so this year. DIY chain Homebase is also to close about 60 stores after a £1 rescue takeover by restructuring Hilco which completed this month. Quick guide History of House Fraser Show Hide House Fraser traces its origins back to 1849, when Hugh and Arthur opened drapery shop on corner of Argyle and Buchanan Street centre of By it a number of shops in Scotland became of Fraser. The 1950s marked
 economic growth model." This arTicle is morE than 2 YeaRs oLd

this ArtiCle is more than 2 yEArs oLd

At least 11,000 jobs are at risk As HouSe OF FraSEr PrepaRes to clOSe MORe tHaN hAlf ItS uK StoreS anD PoundwOrld teeterS on ThE brink of admiNIsTration, in tHe lAtest blow to tHe hIgh strEeTs.

HOUse of fraSer unVeiled A Plan deSigned to sTaVE off coLLapse whICH wIll mEan the closure of 31 of ITs 59 DEpartment storeS incluDiNG iTS oxfOrd street flagShIp in LONdon and ITs SHOPs iN Cities includiNg BirminghaM, carDiff anD EDinBUrgh.

As Many aS 6,000 jOBs cOuld be lost - 2,000 dIrecT HoF emploYees anD 4,000 Who work FOr in-stoRe concEssIonS.

The MOvE bY thE 169-yEAr-oLD cOmpANy iS part of a ReScUe plaN thaT WILL alsO leAd to house Of Fraser movinG ouT of iTS heAd offIces iN LonDoN and GLasgow And clOsIng a distributioN cenTre in MiltOn KEyNes WhEre moRE than 400 mOre JobS are undEr threaT.

up tO 5,000 mORE JoBs are at risk at the 355-stOrE pOuNdworld cHain whICh On tHursday gAvE noTice THAt it iNtenDS tO appoint AdminiSTrAtOrs.

The lEgAl procEsS prOviDes coURt prOtectiOn from crEditoRS for 10 days while tHE company attemPTs TO MoUNt a lAst-Ditch rescue. howeVEr, evEn if A BuYer COmes fOrwarD aT ThE 11Th hour, they would be exPeCted to Close Down a large parT of the storE ESTate.

PounDworLD’s PRivate equity owNer TPg Capital is UNderstooD to be UnwillinG to pump moRE Cash into The BusIneSs. Tpg SaId a key reason fOR pounDwOrld’s prOblEms was tHe BRexIt bLow To Sterling, wHich pushEd Up ThE cOst Of impORted goodS.



THe tWo ChaIns’ diFFicultIes coMe afTeR a STriNg of retAIlERS and ReStAuraNt gRoUps, inCludINg MOthercaRe, CarpetrIghT, new LOoK, PRezzo anD Jamie’s ItaliaN, hAve announcEd PlaNs to clOSE hundredS of outlets putting more thAN 35,000 jobs on The Block So faR this year.

dIY Chain HOmeBAse is aLso expEcted To CloSE About 60 STOrEs aFtEr a £1 rescue tAKEovEr by rEsTrucTuring sPecialist Hilco whicH WilL be completed tHis MontH.

qUiCk gUIdE hisToRY of hOUse of Fraser Show hide House oF FRAsEr traces itS OriGiNs back tO 1849, when HuGh FraSEr and JaMes Arthur Opened a drApEry sHOP on The corner oF Argyle STreet and BUChanaN stReet iN thE centrE oF GlAsgow. by 1941, it haD ExpAnded Into a nUmBer of sHops iN SCotland aNd became House of Fraser. ThE 1950s markEd a
 economic growth model." T his articl e ismor e t ha n 2year s old

This ar t icle  is more than 2 yearsold
At leas t  1 1,000  jobs a r ea t  ri sk  a s H ou s eof Fr ase r prepa res to clo semo re than half it s UK store s a nd Poundworl d t eeters  o n t h e bri nkof ad minist r ation,  in the l at e st blo w  to the h ig h st reets.

House ofF ra s er unveiled aplan d es i gn e d  to  st ave off co ll apsew hich wi l lm e a n t h e closure of31 of its 5 9  de partme nt  st o res in cludi ng its  Oxford Str eetflagshipin Lon d on andi ts shop s in c iti esincl u di ng  Bi rm i ngh a m,  Ca r dif f and Ed in bu rgh.
Asm a n y  as6,0 00 j obs c ould be lost- 2 ,000 dir ect H oF em ploy ee s and  4,000  whowo rk for in-store  con cessions. 

T he  mo ve  by t h e 169- yea r-o ld comp any isp art  o f a  r escue plan that wi ll a ls o lead t o Hous e  o fF raser mo vi ngouto f  itshead of fices in  Londo n  a nd  Glasgo wand cl os ing  adistr i buti on cen tre in M ilton Keynes where m o re than 400 m o re j ob s  are  un der threat. 

Up to 5 ,000 mo rej obs a re at  r i sk at the 355-store Po un dworld  chai n which on Th ursday gav e n otice th at i t  i n tends to appoi nt ad ministrato r s.

Thelegal  process  provides c ourt pro tec tio n f rom c re ditors for 10 d ayswh ile the  co mpany a tte mpt s t o m ou nt a last -ditch r es cu e.  H owe ver,e ven if a  b uye rcom es fo r ward a t the  11t hho u r,they wo u ld b e ex pe ct ed t o c lo se do wn a lar ge part  of the s tor e  est at e. 

Pound world’s priva te  equity ow ne r T PG Cap i t al is un derstood to be unwillin g  to pum p m ore c ashinto thebus iness.  TP G  saida keyreaso nfor P oundw o r ld ’spr oblems was t heBrexi tblow  to ste rling, which pushe d  up  the cost ofimp orte d go ods . 

Th et woc h ains’ difficult ies come a ft e ra string o f  re ta ilers a nd rest auran t  groups , includi ng Mother ca re,C a rpe tright, Ne w Look,Prezzo an d  Jami e ’s  Ital ian , have  a nno unced  plans toclose  hundr ed s of o utlet sputtingmore than 35,000 jobs o n theblock  so  far this  ye a r.
DIY chai n Ho mebase isals o e xpect edt o clo se a b ou t 6 0  stor es a f ter a £1r es cue t ak eover by re s t r uct uring  sp e cialis t Hi lco which will be completed this  mon t h .
Qui c k gu id e History of H ous eo f  FraserSh ow Hide Hou se of Fr as e r tra ces it s orig ins bac k to 1849,when  Hu gh Fraser  an dJ ames Ar th ur opened  a d ra pery s hop on thec o rner of Argyle S treet a nd Bu c han an St re et in t h e ce ntre of Gl asgow. By 1 941, i t ha d exp anded i nt o a nu mbe rof shops i n  Scotland  andbecameHo useofFraser . Th e 1950s  mar ke d a 
 economic_growth model."_This article is more_than 2_years_old

This article_is_more than 2_years old

At least_11,000 jobs are at_risk as House_of_Fraser prepares to close more than half its UK stores and Poundworld teeters on_the_brink of_administration,_in_the latest blow to the_high streets.

House of Fraser unveiled_a plan_designed to stave off collapse which will mean_the_closure of 31_of its 59 department stores including its Oxford Street_flagship in London and its shops_in cities including_Birmingham,_Cardiff_and Edinburgh.

As many as_6,000 jobs could be lost -_2,000 direct HoF employees and 4,000_who work for in-store concessions.

The move by_the 169-year-old company is part of_a rescue plan that will_also lead_to House of Fraser moving_out of its_head offices_in London and_Glasgow and closing a distribution centre_in Milton Keynes_where more than 400 more jobs_are_under threat.

Up to_5,000_more_jobs are_at risk at_the_355-store Poundworld_chain_which on Thursday gave notice that_it_intends to appoint administrators.

The legal process provides_court protection from creditors_for_10 days while the_company attempts to mount a_last-ditch rescue. However, even if a_buyer comes_forward at_the 11th hour, they would be expected to close down a_large part of the store estate.

Poundworld’s_private equity owner TPG_Capital is_understood_to be unwilling_to_pump more_cash into the business. TPG said a_key reason_for Poundworld’s problems was the Brexit_blow to sterling, which_pushed_up the cost of imported goods.



The_two chains’ difficulties come after a_string of retailers and restaurant_groups,_including_Mothercare, Carpetright, New Look, Prezzo_and Jamie’s Italian, have announced plans_to close hundreds_of outlets putting more than 35,000 jobs_on_the block so far this year.

DIY_chain_Homebase is also expected to close_about_60_stores after a £1 rescue_takeover by restructuring specialist Hilco which_will be completed this month.

Quick guide History of House_of Fraser Show_Hide House of Fraser traces_its_origins_back to 1849, when Hugh Fraser and James Arthur opened_a drapery_shop on the_corner of Argyle Street and Buchanan Street in the centre_of Glasgow. By 1941, it had expanded_into a number of shops in Scotland and became House of_Fraser. The 1950s marked a