Fashion > Business Features

Good Sport? Industry Wonders How Ashley Will Handle House of Fraser

5 days ago   |   By

LONDON - Now, the hard work begins.
Crisis-hit House of Fraser could mark the biggest challenge yet for Sports Direct tycoon Mike Ashley in a cold climate for British high-street retailers, with shriveling footfall and rising rents, taxes and competition from online channels.
On Friday, the billionaire businessman, who helms the 3.5-billion-pound retail group Sports Direct International, stepped in to rescue House of Fraser, which had been placed briefly in bankruptcy protection Friday morning, with a check for 90 million pounds.
The 169-year-old retailer had fallen victim to the usual...
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