Aussie chain set to control Cargo

Australian retailer Freedom Group is understood to be poised for a push into the UK, after striking an agreement to take management control of the 36-strong Cargo HomeShop.

Freedom has 195 shops and, according to Australian press reports, managing director Rod Walker sees the Cargo deal as 'a toehold into the European market'.

Freedom will retain Cargo's existing management, but expects its greater buying power to help boost Cargo's margins. No comment was available from Cargo.