Sports Direct tycoon Mike Ashley BUYS House of Fraser for £90m

HOUSE Of Fraser has been saved by billionaire businessman Mike Ashley as Sports Direct buys the chain for £90million cash.

The deal saves the chain's 59 stores and 17,000 workers who were facing the axe.

Ashley's Sports Direct  already had an 11% stake in the chain.

The 53-year-old is worth an estimated £2.8billion and is also owner of Newcastle United.

Earlier this month the department store chain confirmed that it would close more than half of its stores in a desperate bid to stay afloat.

But this morning, the chain said that talks with investors had fallen through and they...
source: Daily Star

2018-08-10 13:23
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