House of Fraser could be sold

City A.M. Reporter
DEPARTMENT store House of Fraser is in advanced talks with opulent French retailer Galeries Lafayette about a takeover.

The French company is closing in on a deal to buy the British favourite after the two entered exclusive negotiations.

The talks, first reported by the FT, cast doubt on a touted float of the company next year, which could have raised £300m. House of Fraser declined to comment.