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

Published: 29-Jul-2019

Mike Ashley says he regrets rescue buy out of the retailer

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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.

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