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    As early as last August, The Observer suggested that the reason AIT attempted to block Burton Group's £566 million take-over bid for Debenhams (by acquiring a near 30 per cent stake) was the hope that all of House of Fraser's stores -- except Harrods -- could be merged with Debenhams and a share quote regained.
    Last month The Observer revealed that George Davies, chairman of Hepworth, held talks with the Al-Fayeds with a view to acquiring all the House of Fraser stores -- except Harrods -- for £450 million.  Davies took the initiative following Burton's acquisition of Debenhams, but the talks abruptly broke down in January.
    Meanwhile, back at the Paris Ritz (owned by the Al-Fayeds) news comes of a 1984 loss of 33.9 million French francs - more than twice the loss for 1983.  The Ritz is being extensively refurbished. 

    According to the Ritz 1984 report and accounts, 'the company has also revised the valuation of freehold land and buildings downward by 10.5 million French francs at 1 January 1984.'

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