House of Fraser.
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7 posts in this topic

Ashley is an asset stripper and his claim to turn HoF into the Harrods of the High Street is laughable.  Issues involving SD and the ownership of Newcastle United are well documented.  HoF staff pensions and other 'liabilities' have already been offloaded with a number of staff voicing their concerns.  I feel really sorry for them and if I were in their shoes I'd start looking for alternative employment asap.

On 10/08/2018 at 12:29, RNaj1 said:

Bought by Sports Direct. Bet Newcastle fans are praying it hastens Ashley's exit from St James's Park.

It won't, because there are no buyers and there won't be any buyers unless the club receives substantially more investment and is seen as a going concern.  I doubt Ashley gives a proverbial.  He seems happy to sit on this and wait it out - just another business to sell on when things hit rock bottom.  It will remain an expensive 'failure' for him for a while yet. 

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48 minutes ago, david.healymbe said:

I'm amazed they are struggling. Every time I visit the one in Belfast it is heaving.

History suggests it's been struggling for a long time. Became Just a line on a spreadsheet  for shareholders to mull over.

How can a Company that took over at least 70 other businesses be expanding if it only reached 58 outlets.

I doubt there are many assets left for Ashley to strip. I think the relative previous owners sold off the properties and leased them back to bank the proceeds long ago.

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