House Of Fraser Turns To Retail Fund Alteri For Rescue Deal

by MR Magazine Staff

A fund which has invested in British retailers including Jones Bootmaker has been approached about backing a rescue of House of Fraser (HoF), the ailing department store chain which employs more than 17,000 people. Sky News has learnt that Alteri Investors is among a small number of potential providers of new funding which have held talks with HoF in recent days as hopes of a £70m injection from the Chinese owner of Hamleys evaporated. Sources close to HoF said Alteri was one of several “credible” potential investors, alongside Sports Direct International, the retailer headed by Mike Ashley, which has proposed providing a £50m secured loan. Read more at Sky News.