Backing pledge for Fraser

THE Chinese owner of House of Fraser has pledged support for the struggling department store after a “disappointing” Christmas.

Sanpower said it was “fully committed to its long-term investment in the UK retail market” and providing “all necessary support to ensure House Fraser’s success”. House of Fraser, which is targeting £26million annual cost savings and has written to some landlords asking for reduced rents on some of its stores, posted a 2.9 per cent drop in sales during the six weeks to December 23.

Trading in the first week of the post-Christmas sale was “disappointing”, with sales recovering this year.