Chinese conglomerate buys House of Fraser

British department store House of Fraser is being bought by a Chinese conglomerate, Sanpower.

Chinese conglomerate buys House of Fraser
Fri, 04 Apr, 2014 - 17:00

British department store House of Fraser is being bought by a Chinese conglomerate, Sanpower.

It has agreed to a deal valuing the business at more than £450m.

It is reported Sanpower could spend up to £80m revamping stores and making improvements to House of Fraser's website.

It may also take the department store into China.

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CourtsBusinessHeathrowPlace: ChinaOrganisation: House of FraserOrganisation: Sanpower
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