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The Latest Breaking News from Frasers

Missguided suppliers expected to be paid less than 2% of £30m owed

Administrator’s report reveals how little may go to those left unpaid after collapse of online fashion firm

The Guardian - UK

Frasers snaps up I Saw It First as it builds online fashion portfolio

Sale comes after purchase of Missguided and earlier acquisition of Studio Retail

The Guardian - UK

Fashion brand worn by Love Island contestants bought by Sports Direct owner

Frasers Group recently rescued Missguided out of administration in a £20m deal

Manchester Evening News

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I Saw It First bought by Frasers Group two months after £20m rescue of Missguided

I Saw It First was set up by Jalal Kamani, the brother of Boohoo co-founder Mahmud Kamani

Birmingham Post

Mike Ashley's Frasers Group hails strong profits but warns over cost of living

The firm is now run by new CEO Michael Murray after Mr Ashley stepped back into an executive director role

Birmingham Post

Mike Ashley’s Frasers Group plans more stores as profits soar

CEO Michael Murray says shoppers have returned to high street but prices likely to rise due to construction costs

The Guardian - UK

Mike Ashley’s Frasers Group delivers profit surge but warns over cost of living

Sports Direct’s parent business hailed a strong performance despite a ‘significant increase’ in running costs.

The Independent UK

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Grant Thornton fined £1.3m for ‘serious failings’ in Sports Direct audits

Financial Reporting Council penalises auditor and former partner at firm over work in 2016 and 2018

The Guardian - UK

Mike Ashley's Frasers Group buys stake in Australian fashion marketplace MySale

This is the latest move for the group that has grabbed a significant chunk of the high street and retail market in recent years

Birmingham Post

Benzinga Before The Bell: Executive Shakeup At Amazon, Boeing Supply Chain Warning, Apple's Tim Cook Says 'Stay Tuned' On AR/MR And Other Top Financial Stories Wednesday, June 22

CNBC Moderna To establish New Vaccine Facility In Britain

Benzinga

British Retailer Frasers Boosts Investment In Hugo Boss

British retail and intellectual property group Frasers Group PLC (OTC:SDIPF) has increased its investment in Hugo Boss AG (OTC:BOSSY), the German luxury fashion brand, to €900 million. Frasers noted the increased position reflects its belief in the Hugo Boss brand, strategy, and management team. Fraser now holds 3.4 million shares of common stock, representing…

Benzinga

Missguided customers told ‘no refunds on returns’ weeks after Mike Ashley agreed takeover

Angry shoppers take to social media to complain as fashion chain administrators rule out payments

Chronicle Live

Missguided customers will not receive funds on returns, administrators rule

The fast fashion brand was acquired by Frasers Group in a £20m deal after entered administration

Birmingham Post

Missguided shoppers told they will not receive refunds for returns

The brand has now been taken over

Wales Online

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The Independent UK

Missguided shoppers will not receive refunds on returns, say administrators

It comes after the Manchester-based company tumbled into insolvency last month.

Manchester Evening News

Nitin Passi returns as Missguided CEO - eight weeks after stepping down when firm plunged into administration

Mr Passi originally stepped down from the position in April

Birmingham Post

Nitin Passi returns as Missguided CEO after Frasers Group rescue

Mr Passi founded the online fashion brand in 2009 and stepped down as CEO in April this year

Bangkok Post

Building castles in the sky

Frasers Property Holdings (Thailand), owned by billionaire Charoen Sirivadhanabhakdi's youngest son Panote, plans to continue with mixed-use developments after completion of the massive One Bangkok.

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The Guardian - UK

Missguided collapse could leave thousands of customers out of pocket

Deliveries of orders not guaranteed while administrators unlikely to honour refund requests from before they were called in

Chronicle Live

Businesses and brands owned by Mike Ashley as Frasers Group buys Missguided

The Sports Direct founder and former Newcastle United owner now owns Missguided, along with brands like Jack Wills, Flannels and Game

Insider UK

Mike Ashley’s Frasers Group buys Missguided out of administration

The deal, worth around £20m, will see the fast fashion retailer continued to be operated by administrators for around eight weeks

Daily Record

Mike Ashley's Frasers Group buys Missguided out of administration in £20 million deal

The deal comes after Missguided collapsed into administration on Monday.

Manchester Evening News

Missguided bought out of administration by Mike Ashley's Frasers Group

The deal comes after the fast-fashion company collapsed into administration on Monday

The Guardian - UK

Frasers Group buys Missguided out of administration for £20m

Company controlled by Mike Ashley ‘delighted to secure a long-term future’ for online fashion retailer

Daily Mirror

Sports Direct to open 10 new flagship stores as Mike Ashley steps down

Michael Murray has replaced billionaire Mike Ashley - his future father-in-law - as chief executive of Frasers Group, which owns Sports Direct. In his first interview in his job, he details his plans for the retail empire

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