House of Fraser closures loom as Ashley’s Sports Direct takes hit

Mike Ashley Poland Street

Sports Direct has laid bare the scale of problems at House of Fraser, the department store business it bought out of administration last year, as it posted a fall in full-year earnings.

Sports Direct, controlled by controversial tycoon Mike Ashley, said House of Fraser store closures are likely in the next 12 months after it lost £54.6m.

Sports Direct reported a 6% fall in group underlying EBITDA to £287.8m on sales 10.2% up to £3.7bn in the year to April 28, delayed results showed.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.