NEWS ROUND-UP: HoF calls in KPMG

EG brings you a few highlights from yesterday’s news, in case you missed the daily round-up RETAIL WOES: HoF calls in KPMG to examine CVA If the chain, which is carrying hundreds of millions of pounds of debt, does launch a CVA it would be the latest in a growing list of retail restructures, following New Look, Carpetright and Toys R Us. Which other department stores are struggling? SEE ALSO: Landlords baulk at House of Fraser rent plea RETAIL WOES: Debenhams puts rent and right-sizing on the agenda Department store chain Debenhams says it is pushing on with its “Debenhams Redesigned” strategy amidst difficult trading conditions and fall in pre-tax profit of 30.6%. Will the strategy turn things around? PEOPLE MOVES: Blackstone MD named as Stanhope successor Stanhope has recruited a Blackstone senior managing director as successor to chief executive David Camp, who plans to step down in the next two to five years. Stanhope’s plans to grow significant platforms TECH: TH Real Estate gets an edge with €1bn tech investment TH Real Estate has invested €1bn (£871m) in Amsterdam-based EDGE Technologies. The investment manager has completed the acquisition on behalf of the Cityhold Office Partnership and has also committed to acquiring EDGE Grand Central in Berlin, due to complete in 2020. The new partnership plans to grow the portfolio to €1bn DEALS: Indian hotel developer tops 22 bids to buy BlackRock’s 5 Strand   An Indian hotel developer has agreed a deal to buy the 72,359 sq ft office and retail building at 5 Strand, WC2, from BlackRock UK Property Fund, for more than £90m – a circa 12.5% uplift on the original asking price. Read more about….