House of Fraser rescued by Mike Ashley’s firm in £90m deal
Sportswear chain Sports Direct has snapped up House of Fraser in a £90m rescue deal that includes all of its stores.
In a statement to the stock exchange, Sports Direct, which is owned by Mike Ashley. confirmed it had bought the retailer for £90m in cash, shortly after it fell into administration this morning.
“The group has acquired all of the UK stores of House of Fraser, the House of Fraser brand and all of the stock in the business,” it said.
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