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In three articles in our editions of May 12 and 13 we published allegations concerning John Coleman, chief executive of House of Fraser, and his fellow members of the House of Fraser board.
We quoted an institutional investor in the company as saying there was a risk that Mr Coleman and his colleagues would sell House of Fraser “on the cheap” to a private equity company. We also quoted the investor as fearing that Mr Coleman and his colleagues would agree to sell House of Fraser in return for a larger stake in the private equity company.
We now accept there is no truth whatsoever in these allegations and we apologise to Mr Coleman and his colleagues for their publication.