House of Fraser looks likely to push the button on an IPO process this year after discussions with French peer Galeries Lafayette came to an end.

Galeries Lafayette was in talks to acquire House Fraser, and had exclusivity until the end of this month.

It now looks likely that House of Fraser will join the long list of retailers attempting to float this year. They include Poundland, Pets at Home and Fat Face.

A listing of the department store group would value it at £350m, sources told the Financial Times.

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