House of Fraser in talks with pension authorities over stake sale

High street struggler House of Fraser is in talks with pension authorities over its retirement fund after revealing a major ownership shake-up and restructuring drive. The Pensions Regulator confirmed discussions with the company were taking place, as control of the retailer shifts to Hamleys toy shop owner C.banner International Holdings. House of Fraser has two pension schemes with around 4,000 members. It had assets of £705.1m and liabilities of £608.2m to March this year. According to the Guardian the department store chain may have to fund a multimillion-pound injection into its pension scheme. The ailing retailer could be required to set aside a significant sum in order to secure the support of the pension protection fund (PPF), an industry-backed body that bails out troubled schemes. Click here for the full Telegraph article Click here for the full Times article (£) Click here for the full Guardian article Click here for the full FT article