By  on August 20, 2018

LONDON — Mulberry said Monday that its profits would be hit by House of Fraser’s collapse and saw its shares plummet 30 percent as a result.

The luxury handbag company issued a trading update after House of Fraser, in which it operates 21 concessions, entered into administration on Aug. 10. Mulberry said it expects to spend 3 million pounds for exceptional costs in the results for the six months ended Sept. 30.

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