House of Fraser rescued 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 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.
More details of what this means for the group’s 17,000 staff across its 59 stores are expected to foll... For the full story register now for free or login below...