Oct 2, 2018
Sports Direct culls House of Fraser senior management
Sports Direct, the leisurewear chain controlled by billionaire Mike Ashley, has dismissed the former directors and senior management of House of Fraser just weeks after buying the ailing department store group out of administration. In a brief statement issued after the stock exchange closed on Monday evening, Sports Direct said that "We have dismissed the former directors and senior management of House of Fraser". The calls for an investigation into the circumstances behind House of Fraser's collapse have come from Mr Ashley himself, and one supplier - Ehab Shouly, whose Tea Terrace business has tea rooms in a handful of House of Fraser stores. Sports Direct did not take on responsibility for the retailer's pension obligations, while customers who held House of Fraser gift vouchers have become unsecured creditors, leading to widespread complaints about their treatment on social media. Last month, Sports Direct ruled out bidding for Debenhams after an outgoing director said the board had discussed combining the department store group with House of Fraser.
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