The British clothing group Frasers announced on Friday the filing for bankruptcy of its luxury clothing subsidiary Matches Fashion. Frasers, owner of Sports Direct and unsuccessful candidate last year for the takeover of Go Sport, announced in December the acquisition of Matches for around 52 million pounds (61 million euros) The aim was to “strengthen Frasers’ luxury offering” as part of its upscaling strategy.
“This may be the fastest failure of the Frasers empire, but the group will simply move on and look for the next opportunity,” commented Russ Mould, analyst at AJ Bell.