The Chinese owner of House of Fraser is in talks to sell a large stake in the British department stores chain.
Nanjing Cenbest said that it was in discussions to sell 51% of its 89% stake to Wuji Wenhua, a Chinese tourism development company.
It comes only four years after Nanjing Cenbest, which is controlled by Yuan Yafei’s Sanpower Group, bought House of Fraser for £155m, promising a grand expansion of the 169-year-old brand across China.
