HANDBAGGED BY CHAIN’S CRASH

House of Fraser’s collapse triggered a profit warning from upmarket handbag maker Mulberry yesterday. The Somerset-based firm, which counts the Duchess of Sussex among its star customers, said it faced a £3million hit from the collapse of the chain in which it has 21 concessions. Billionaire Mike Ashley’s Sports Direct bought House of Fraser out of administration, but minus its debts. Documents show Mulberry was owed £2.4m. The firm said the UK market “continued to remain challenging” with House of Fraser “particularly affected”. It warned unless things picked up, especially over Christmas, its full year profits would be “materially reduced”. The announcement prompted a 29% crash in Mulberry’s share price yesterday.