C.banner exits HoF rescue deal

House of Fraser

Source: Shutterstock/Angelina Dimitrova

Hamleys owner C. banner has pulled out of plans to buy a controlling stake in House of Fraser.

The Chinese footwear giant said in May that it would acquire a 51% stake in the chain from current owner Nanjing Cenbest once its Company Voluntary Arrangement process had completed, as well as giving it a £70m cash injection.

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