Mike Ashley's Sports Direct reaches deal to rescue House of Fraser for £90 million

Mike Ashley 's Sports Direct has struck a deal to rescue House of Fraser out of administration for £90 million, raising hopes for the future of thousands of staff.

In a stock market announcement, Sports Direct said it has acquired all of the UK stores of House of Fraser, the brand and all of the stock in the business.

Some 17,000 staff are being informed that they will be transferred over from House of Fraser to Sports Direct.

The deal was struck through a pre-pack...
source: Daily Record

2018-08-10 12:56
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