House Of Fraser, A British Chain Store Bought, Will Reduce Its Operating Scale.

According to the British BBC news and financial times, Mike Ashley, the boss of Sports Direct, the largest sporting goods retail group in the United Kingdom, bought the bankrupt chain corporation House of Fraser at 90 million pounds in 2018. Mike Ashley said it was integrating the House with the group. However, due to the poor operation of many branches, it plans to reduce the scale of operation in the 2020 year.

Although Sports Direct Group continued to suffer losses in House of Fraser department store, the group's overall revenue grew, and its pre tax profit increased to 193 million 400 thousand pounds in the first half of the year. Its share price also rose after the announcement.

Sports Direct group also owns designer fashion brand Flannels, video game chain Game Digital, clothing retailer Jack Wills, bicycle retailer Evans Cycles and online furniture store Sofa.com and other companies. According to Hargreaves Lansdown, a financial services analysis firm, the acquisition of brands by Sports Direct group is part of the Mike Ashley's multi retail business plan.

(Sports Direct Internatio Nal PLC was founded in 1982 and is currently the largest sporting goods retailer in the UK. The Group operates diversified sports, fitness, fashion and life oriented businesses in more than 20 countries / regions. At present, there are 29400 employees in 6 business areas: sporting goods retail, advanced lifestyle, House of Eraser department store, European sporting goods retail, overseas market retail, wholesale and licensing. In order to enhance the company's all retail channels and increase the revenue of the group, the company's main business strategy focuses on the investment of employees, business and key third party brand partners. )