The Chinese owner of House of Fraser has finally pumped £25m into the department stores group to boost its transformation plan and improve its trading amid steep first-half losses.
Three years after taking control of House of Fraser, Yuan Yafeis Sanpower Group has injected £10m of equity to help the retailer to improve its British distribution centre and has provided £15m of additional headroom ahead of the Christmas trading period.
The news comes after months of speculation that House of Fraser was being deprived of investment by its owner and was struggling to keep up with competitors on the high street.
