Jump to content
House Price Crash Forum
Sign in to follow this  
macbeth79

Chinese Buy House Of Fraser

Recommended Posts

British High Street stalwart House of Fraser has been bought by a Chinese conglomerate in a deal that values the firm at more than £450million.

Nanjing-based Sanpower Group, headed by tycoon Yafei Yuan, has agreed to buy an 89 per cent stake in the 165-year-old department store chain.

The deal means plans to float House of Fraser on the London Stock Exchange this summer are null and void.

Read more: http://www.thisismoney.co.uk/money/news/article-2597056/House-Fraser-snapped-Chinese-conglomerate-set-spend-80m-revamping-British-High-Street-stalwart.html#ixzz2xwkxHuu3

Share this post


Link to post
Share on other sites

British High Street stalwart House of Fraser has been bought by a Chinese conglomerate in a deal that values the firm at more than £450million.

Nanjing-based Sanpower Group, headed by tycoon Yafei Yuan, has agreed to buy an 89 per cent stake in the 165-year-old department store chain.

The deal means plans to float House of Fraser on the London Stock Exchange this summer are null and void.

Read more: http://www.thisismoney.co.uk/money/news/article-2597056/House-Fraser-snapped-Chinese-conglomerate-set-spend-80m-revamping-British-High-Street-stalwart.html#ixzz2xwkxHuu3

Its one of those shops that could actually be really successful if they learnt just a little bit about customer service. I lose count of the number of times I've been in there ready to spend some money and the staff have done everything in their power to stop me.

Share this post


Link to post
Share on other sites

After decades of the west buying stuff "made in China", the money is coming back as they know it won't be paid back. The hot potatoes are being passed back.

Share this post


Link to post
Share on other sites

Its one of those shops that could actually be really successful if they learnt just a little bit about customer service. I lose count of the number of times I've been in there ready to spend some money and the staff have done everything in their power to stop me.

I think that is down to the department store model. As in the link most of the staff do not work for the House of Fraser. If they work for eg a brand they won't direct you to other brands.

I am not sure how John Lewis do it. Maybe they aren't a department store in the traditional sense. Other posters better placed to comment. SNACR ?

No idea if 450mn is alot as not seen profit or balance sheet.

Edited by Ash4781

Share this post


Link to post
Share on other sites

I think that is down to the department store model. As in the link most of the staff do not work for the House of Fraser. If they work for eg a brand they won't direct you to other brands.

I am not sure how John Lewis do it. Maybe they aren't a department store in the traditional sense. Other posters better placed to comment. SNACR ?

No idea if 450mn is alot as not seen profit or balance sheet.

No, that's down to poor management.

Share this post


Link to post
Share on other sites

Compared to Debenhams their online 'click and collect' service is fantastic, can order the night before and the goods are available for collection the next day whereas with Debenhams I have to wait 4 working days.

Share this post


Link to post
Share on other sites

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/10747198/Mike-Ashley-takes-House-of-Fraser-stake-to-spoil-Chinese-takeover.html

Exclusive: Sports Direct owner in move to derail Chinese takeover of 165-year-old British department store

Ashley to the rescue or he's bought it to sell at a large profit?

Share this post


Link to post
Share on other sites

British High Street stalwart House of Fraser has been bought by a Chinese conglomerate in a deal that values the firm at more than £450million.

Nanjing-based Sanpower Group, headed by tycoon Yafei Yuan, has agreed to buy an 89 per cent stake in the 165-year-old department store chain.

The deal means plans to float House of Fraser on the London Stock Exchange this summer are null and void.

Read more: http://www.thisismoney.co.uk/money/news/article-2597056/House-Fraser-snapped-Chinese-conglomerate-set-spend-80m-revamping-British-High-Street-stalwart.html#ixzz2xwkxHuu3

It's unsurprising that the Chinese are buying British businesses and also buying property. We have purchased so much stuff from them they are left with ridiculously large amounts of Sterling. They realise that with the continuation of QE devaluing the Sterling there is no point in having devaluing piles of it and as we manufacture next to nothing and what we do manufacture costs magnitudes more than their manufacturing costs they are left with no other option that to buy up British assets consisting of businesses and property.

Share this post


Link to post
Share on other sites

It's unsurprising that the Chinese are buying British businesses and also buying property. We have purchased so much stuff from them they are left with ridiculously large amounts of Sterling. They realise that with the continuation of QE devaluing the Sterling there is no point in having devaluing piles of it and as we manufacture next to nothing and what we do manufacture costs magnitudes more than their manufacturing costs they are left with no other option that to buy up British assets consisting of businesses and property.

...it's all in the brand... :rolleyes:

Share this post


Link to post
Share on other sites

British High Street stalwart House of Fraser has been bought by a Chinese conglomerate in a deal that values the firm at more than £450million.

Nanjing-based Sanpower Group, headed by tycoon Yafei Yuan, has agreed to buy an 89 per cent stake in the 165-year-old department store chain.

The deal means plans to float House of Fraser on the London Stock Exchange this summer are null and void.

Read more: http://www.thisismon...l#ixzz2xwkxHuu3

That's the last time I buy anything from House of Flazer.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   224 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.