August 10, 2018 / 9:10 AM / in 4 months

Sports Direct buys House of Fraser from administrators for 90 mln stg

LONDON, Aug 10 (Reuters) - British sportswear retailer Sports Direct has acquired the business and assets of House of Fraser from the department store group’s administrators for 90 million pounds ($115 million), it said on Friday.

Earlier on Friday, House of Fraser had fallen into administration, a form of creditor protection, after talks with investors and creditors failed to find “a solvent solution” for the business. ($1 = 0.7845 pounds) (Reporting by James Davey; editing by Alistair Smout)

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