House of Fraser bought by Mike Ashley's Sports Direct for £90m

The rescue deal includes all of the department store chain’s outlets

Sports Direct, the sportswear chain controlled by Mike Ashley, has swooped on House of Fraser in a £90m rescue deal that includes all of its stores.

In a statement to the stock exchange, Sports Direct confirmed it had bought the retailer for £90m in cash, shortly after it fell into administration this morning.

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Source: The Guardian
House of Fraser bought by Mike Ashley's Sports Direct for £90m