XPO Logistics and House of Fraser supply chain standoff continues

House of Fraser
 

XPO Logistics remains in a standoff with the new owner of House of Fraser, with the department store group’s supply chain paralysed as a consequence. The logistics firm is owed £30.4m as a creditor of the retailer, which was placed into administration on 10 August and saw most of its assets sold to Mike Ashley’s Sports Direct shortly after. While the sale price of £90m was eye-catching, the money will be used to settle debts with secured creditors. Under insolvency […]