FTSE LIVE: Pound slips to $1.27 and shares slide into the weekend as trade worries continue to grip markets; House of Fraser enters administration with Mike Ashley reportedly lining up deal to buy it
- Thousands of jobs now at risk at the 169-year old department store
- Retailer said all talks with investors and creditors had failed
- Nationwide Building Society profits slide by 12 per cent
It’s more bad news for the high street this morning, as department store group House of Fraser announced it is calling in administrators.
Across the UK, the retailer employs 17,500 people, including 11,500 concession staff.