Share price slumps as retailer forced to close shops

Frasers Group, the Shirebrook-based owner of Sports Direct, saw almost 9% wiped off its share price yesterday (December 21) after it revealed it was suspending its full-year guidance.

Shares in the firm, which also owns House of Frasers, Evans Cycles, Game and Flannels, were trading at 433.3p as the markets closed yesterday – down from an opening price of 449p.

At one point during the day, the company’s shares had plummeted by over 10%.

The slump comes as Frasers Group said it was cancelling any full-year 2021 guidance after its stores in the new Tier 4 areas were forced to close over the weekend as new, stricter regulations were imposed on most of London and the south-east.