LONDON — Sports Direct boss Mike Ashley has agreed to purchase the business and assets of British retailer House of Fraser, which was placed into bankruptcy protection — for a few hours — on Friday morning. Ashley is paying 90 million pounds for all of HoF’s U.K. stores, the brand and the stock, Sports Direct has confirmed.
Early Friday morning, Britain’s House of Fraser sought bankruptcy protection after talks to find a new investor failed. The controversial retail tycoon Ashley was widely tipped to seal a last-minute deal once HoF was placed into administration, the U.K. equivalent of Chapter 11.
Exclusive: @tommyhilfiger has tapped 22-year-old actress @zendaya to be his newest collaborator and together they will launch a see-now-buy-now collection in February. Speaking to WWD about the project, the Spider-Man actress said: “Fashion is more than just wearing cool clothes. It’s a way to celebrate self-expression and individuality, which is extremely empowering. This is why I am proud to partner with Tommy Hilfiger.” Tap the link in bio for the full scoop. #TommyXZendaya #wwdfashion
Fashion is facing a blistering pace of technology, a complex economic backdrop, and shifting social mores, priorities, and lifestyles. WWD's annual CEO summit on Oct. 30 and 31, will be the meeting place for some of the sharpest minds in the business who will address how these forces affect a consumer. Speakers this year include Antoine Arnault, Virgil Abloh, Gabriela Hearst, and Olivier Rousteing. Tap the link in our bio to find out more. #wwdceosummit