Sports Direct dismisses House of Fraser senior management
loading...
Sports Direct, the new owner of House of Fraser has dismissed the former directors and senior management of the department store chain, just weeks after acquiring the retailer from administrators.
In a one-sentence statement to the Stock Market, Sport’s Direct owned by Mike Ashley, simply clarified that the senior management of the retailer were being dismissed following calls for an investigation into the collapse, which left suppliers and landlords millions of pounds out of pocket, including Mulberry, Polo Ralph Lauren, Kurt Geiger and Phase Eight.
The statement said: “Following the collapse of House of Fraser on August 10, 2018, and subsequent calls for an investigation into the circumstances of that collapse, the Company today announces that we have dismissed the former Directors and senior management of House of Fraser.”
The dismissed directors and senior management staff were not named on the statement, but they join House of Fraser’s former chairman Frank Slevin, who left the department store following the sale.
Sports Direct acquired House of Fraser’s 58 UK stores, its brand and all its stock in August for 90 million pounds, and while a number of stores have been secured including the retailer’s flagship on Oxford Street in London, reports are suggesting that Edinburgh, Hull and Swindon would be closed following disagreement over rental terms with the landlords.
The department store has also since relaunched its website, after the company took it down on August 15 due to delays in delivering online orders after its warehouse operator XPO Logistics stopped processing orders due to a payment dispute.