House of Fraser has appointed investment bank Rothschild to advise it as the retailer looks to refinance its debt package. The department store will work with Rothschild on the refinancing of £225m (of its £390m debt package) which will mature in July 2019, according to the Daily Telegraph.
Last week an unnamed credit insurer opted to stop offering cover to some of House of Fraser’s suppliers. The insurer covered around 20 of the retailer’s 650 suppliers. The group has seen both bricks & mortar (down nearly 3%) and online (down by 7.5%) sales fall in the six week run-up to Christmas (26th December).
