By  on August 10, 2018

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.

To continue reading this article...

load comments
blog comments powered by Disqus