
Frasers Group has reportedly thrown down the gauntlet to its landlords and said that it won't pay its rent bills until it’s “fully able to freely trade as a business” again.
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Frasers Group has reportedly thrown down the gauntlet to its landlords and said that it won't pay its rent bills until it’s “fully able to freely trade as a business” again.
Sports Direct wants its Leicester shops to remain open during the local lockdown, with Frasers Group CFO criticising the two-week closure as “scandalous”.
The move significantly increases Frasers’ investment in Hugo Boss and it comes just weeks after it announced it had taken a 5.1% stake in the business.
Mike Ashley’s Frasers Group is reportedly facing an HMRC investigation over allegations that it abused the government’s furlough scheme during the Covid-19 lockdown.
Matalan is marketing its head office in Knowsley, Merseyside with the hope of freeing up spare cash to mitigate the impact of Covid-19.
There was a clear set of winners and losers over the first two days of shops reopening, with Primark, Sports Direct and TK Maxx among the former and M&S and Next among the latter, retail analysts said.
Mike Ashley's Frasers Group, formerly Sports Direct, has taken a 5.1% stake in German label Hugo Boss through stocks and derivatives, continuing his drive to take the British sportswear and apparel retailer upmarket.
Frasers finance chief Chris Wootton has urged the government to do more to support high street retailers following the Covid-19 outbreak, warning that many businesses risk going out of business.
In a letter sent to staff, CEO Mike Ashley said that stores could start to reopen from 1 June and revealed that most employees will continue to receive 100% of their pay during May.
The owners of fashion businesses like River Island, The Edinburgh Woollen Mill Group, Arcadia, Charles Tyrwhitt, New Look and Monsoon Accessorize have all seen their estimated personal wealth fall over the past year.