CHRISTMAS SO CRUCIAL

A top credit ratings agency has warned the next few months will be “crucial” for House of Fraser.

Moody’s said the department store chain’s “credit quality remained highly exposed to performance over the crucial Christmas trading period”.

It came as House of Fraser’s Chinese owner Sanpower pumped an extra £15million into the business last month.

Finance chief Colin Elliot said the funding provided “financial headroom” in the run-up to the festive period.

The firm’s losses widened from £900,000 to £8.6m as it spent on revamping its website and womenswear.

New boss Alex Williamson blasted the chain’s ex-owners for “starving” it of cash over “a significant period of time”.