From Hull Live | Friday 10 August 2018
Sports Direct has bought House of Fraser in a deal worth up to £90m.
House of Fraser had announced on Friday morning it had entered administration , after saying that talks with investors and creditors had “not concluded in a solvent solution”.
But, just after 10am, Sports Direct announced to the stock market it had bought the retailer.
In a stock market announcement, Sports Direct said it has acquired all of the UK stores of House of Fraser, the brand and all of the stock in the business.
Prior to its collapse, owner Mike Ashley had held an 11% stake in the department store chain.
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