Freshfields and Kirkland take roles on House of Fraser restructuring as Sports Direct mounts legal challenge

Magic circle firm leads for retailer with Chinese investor set to become majority shareholder

Freshfields and Kirkland & Ellis are advising on House of Fraser’s restructuring, with Chinese retail conglomerate C.banner set to become a majority shareholder in the company.

The UK department store group has proposed a company voluntary agreement (CVA), which will include a restructuring of its store portfolio, with branch closures likely to lead to significant job losses. The retailer has 59 stores nationwide, employing 6,500 staff and 11,500 concession staff.

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