HIGH-END department store group House of Fraser yesterday said it had no intention of selling any of its stores.
The group, which has stores in Darlington, Middlesbrough and the MetroCentre, in Gateshead, put out a statement following market speculation that Debenhams was considering buying some or all of House of Fraser’s stores.
In the statement, House of Fraser said: “Following recent incorrect market speculation reported in the media, House of Fraser would like to clarify that it currently has no intention of selling any of its 62 stores.
“The department store continues to be in a strong financial position. The group is trading ahead of plan and is seeing sales on an improving trend with positive growth in the last 12 weeks.”
It went on to state that at close of business on Monday, the group had in excess of £85m in the bank and further available working capital facilities of £36m.
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