House of Fraser is set up to unveil plans to close more than half its stores. The retailer’s Chinese owner is coming to near completion of a restructuring proposal that will put thousands of jobs at risk.
The store closures will be undertaken through a Company Voluntary Agreement (CVA), a controversial insolvency procedure among struggling retailers.
Sources told the Press Association that details leaked to the industry suggest the department store chain could shut 31 of its 59 stores.
