House of Fraser rejects collapse reports
House of Fraser has denied reports it is on the brink of collapse as the department store chain insists its rescue plans are on track.
The retailer said it is "inaccurate and unhelpful" to suggest it is struggling to secure the support of its banks.
The talks were continuing and "constructive", House of Fraser added.
The retailer said last month it would launch a company voluntary arrangement (CVA), which allows firms to close loss-making shops and reduce rents.
House of Fraser has 59 stores in the UK and Ireland, more than 6,000 employees and 11,500 concession staff.
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