Debt-ridden company failed this week to make a $87.7 million payment due to bond investors

Despite founder’s ambitions, Sanpower didn’t have the capital, expertise needed to revive House of Fraser

Privately owned Sanpower sinks deeper into crisis with borrowings of $9.2 billion and creditors circling

Nanjing Xinjiekou has to liquidate bankrupt subsidiaries after equity sale deal collapses

Sale comes just four years after real estate conglomerate Sanpower paid $666 million for historic British chain