More misery for ‘terminal’ House of Fraser as stores set to close

Mike Ashley says he regrets rescue buy out of the retailer

House of Fraser (HoF) owner Mike Ashley has expressed regret at buying the UK department store, after it revealed an operating loss of £54.6m.

The frank admission comes after HoF’s results were worse than the £50m expected by analysts.

Ashley’s Sports Direct group, which owns HoF has confirmed it will close further stores in the coming year as a result of poor sales.

. . .

This is a small extract of the full article which is available ONLY to premium content subscribers. Subscribers sign-in (top right) to read the article.

Or

Subscribe now to premium content on Cosmetics Business

Companies