Mike Ashley’s hopes of turning House of Fraser into the “Harrods of the high street” have been dealt an early blow as sales at the struggling division retailer crashed in the run-up to Christmas.
Sales at the division retailer have tumbled by 60laptop over the 12 weeks to 18 December, in accordance to figures by Kantar Worldpanel, seen by The Telegraph.
Last month Mr Ashley stated that November had been “unbelievably bad” with retailers being “smashed to pieces”. The retail tycoon purchased the division retailer for £90m out of administration final August and has since been battling with landlords for rent-free agreements in order to hold the retailers open.
Sports Direct revealed that House of Fraser had burnt by way of…