The Chinese firms have reportedly signed the pact in Hong Kong today
Just days after it was reported that House of Fraser has brought in advisers and was considering store closures, it is now said that the struggling retailer is in talks with the Chinese owner of Hamleys to sell a majority stake.
The Chinese firms have reportedly signed the pact in Hong Kong today with an official announcement due later in the day.
According to media reports, shoe retailer C Banner International Holdings has signed a memorandum of understanding with HoF’s owner Sanpower-controlled Nanjing Xinjiekou.
House of Fraser has 59 stores and 6,000 staff.