Frasers Group's Announcement on Matches Fashion Closure
Frasers Group's Update on Matches Fashion Closure
Mike Ashley's retail conglomerate, Frasers Group, has disclosed that the designer brand platform, Matches Fashion, which was acquired in December, will cease operations.
Financial Concerns Impel Closure
The decision to shut down Matches Fashion comes as a response to the substantial financial losses incurred by the platform, prompting a reevaluation of its sustainability within the group's portfolio.
Mike Ashley acknowledges that despite the acquisition, the brand's performance has fallen short, leading to the inevitable decision to fold Matches Fashion.
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