House of Fraser Bought for £90 Million

[Lex]

Nice move by Mike Ashley - he picked the business at a bargain price the minute it went into administration: https://www.bbc.co.uk/news/business-45140874

[rebbonk]

I wonder just what his plans are? I can't see the businesses merging or coming under a common banner, so I guess they'll still be run separately. Which then begs the question what will he do differently to prevent a repeat of the recent past?

[margaret]

Lately I heard that Debenhams are planning a merger with HOF.

[rebbonk]

I'd not picked up on that Margaret, but Debenhams are having a few problems at the moment. They've issued several profits warnings, but I suspect that's a smokescreen for cash-flow problems. I really wonder just how strong their business actually is?

[Lex]

Potential new uses for the building in Leamington, should House of Fraser close: https://www.leamingtoncourier.co.uk/news/fallback-plans-revealed-for-house-of-fraser-building-in-leamington-1-8745793

[rebbonk]

HoF are not doing very well at all at the moment. I hope Ashley hasn't bitten off more than he can chew.

[margaret]

A Gym will be stupidly expensive, and we don't want more cafe's / restaurants, what a pathetic plan!
We already have a Gym and Health Spa, in Leamington and pretty well is on the road at the back of HoF. Another expensive Gym that I know of is in Binswood Ave. and a few more.
I think it would be good to extend The Priors Shopping Mall there in HoF , plenty of room for shops.

[Lex]

Potential new uses for the building in Leamington, should House of Fraser close: https://www.leamingtoncourier.co.uk/news/fallback-plans-revealed-for-house-of-fraser-building-in-leamington-1-8745793

2 floors of the building have been rented out to a video games company: https://www.coventrytelegraph.net/news/local-news/video-game-company-move-leamingtons-24003228

[margaret]

This takeover saddens me.