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Mike Ashley offers House of Fraser cash injection

Struggling department store House of Fraser is understood to be in talks with Sports Direct owner Mike Ashley over a £50m investment deal.

Rothschild, which is advising HoF, has been approached by Ashley about providing new funding for the retailer in the form of a potential loan or equity injection, Sky News reports.

Ashley’s Sports Direct group owns a 11% stake in House of Fraser.

The move comes after Chinese investor C Banner said it would delay its £70m investment in House of Fraser until legal proceedings with a group of landlords over its proposed company voluntary arrangement are resolved.

Drapers has approached Sports Direct and Rothschild for comment. 

Readers' comments (1)

  • Ashley would be completely mad to invest such a figure. It is more like House of Fraser want him to invest, rather than the other way around.

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