Prøve GULL - Gratis
Frasers snuffs out Matches just months after buying it for £52m
Evening Standard
|March 08, 2024
FRASERS GROUP today gave up on Matches Fashion just months after spending £52 million on a bid to keep the high-end clothes retailer alive.
The company has been put into administration after Frasers admitted Matches was making "material losses" and "consistently" missing targets set out to improve the business.
The online clothing platform employs about 700 people, but Frasers, best known for its ownership of Sports Direct, said the cash needed to keep the business going was "far in excess" of what it felt was viable.
Frasers, led by Michael Murray, bought Matches off Apax Partners in December.
Apax, which had owned the company since 2017, once valued it at more than $1 billion - a sign of how rapidly the UK retail sector has unravelled.
Denne historien er fra March 08, 2024-utgaven av Evening Standard.
Abonner på Magzter GOLD for å få tilgang til tusenvis av kuraterte premiumhistorier og over 9000 magasiner og aviser.
Allerede abonnent? Logg på
FLERE HISTORIER FRA Evening Standard
The London Standard
Can Rosenior crack it as Chelsea frontman?
The inexperienced new Blues boss will have to work with the powers behind the scenes to have any chance of success.
6 mins
January 08, 2026
The London Standard
London's best antique dealers and jewellers
From Georgian engagement rings to 1980s Bulgari, the city's jewellers have it all — you just need to know where to look.
3 mins
January 08, 2026
The London Standard
Hidden London
SECRET SPOTS YOU SIMPLY HAVE TO DISCOVER
4 mins
January 08, 2026
The London Standard
Our three-bedroom Victorian house was a steal. When we tell people how much it cost their jaws hit the floor
If you are debating whether to stay in London or move to the country, Harold Hill could be a perfect compromise.
1 mins
January 08, 2026
The London Standard
New Year in the capital: feel better, live brighter in 2026
The new year in London always brings a buzz of opportunity. But rather than chasing dramatic resolutions, 2026 is the year of gentle consistency, and of putting your wellbeing at the centre of your routine
2 mins
January 08, 2026
The London Standard
Performance & wellness
Dr Mukil Menon is redefining performance and longevity medicine in the UK through medically supervised peptide therapies and bespoke health programmes
2 mins
January 08, 2026
The London Standard
A safe pathway to Dubai and the UAE
While the UK is dealing with one of the largest tax rises in its recent history, many are seeing the United Arab Emirates (UAE) — and Dubai specifically — as an attractive alternative place to build a future
2 mins
January 08, 2026
The London Standard
McCullum reign continues for now after Ashes debacle
Coach expected to lead side into the T20 World Cup despite disaster Down Under. By Cameron Ponsonby
3 mins
January 08, 2026
The London Standard
'THE APOCALYPSE HAS ALREADY HAPPENED'
Sleaford Mods frontman Jason Williamson has been the genius, foul-mouthed voice of working-class Britain for more than a decade— now he’s eyeing up the fate of the planet.
5 mins
January 08, 2026
The London Standard
LONDON RULES SUPREME: THE BEST CULTURE OF 2026
Christopher Nolan's Odyssey. Lily Allen in the West End. A Gorillaz football stadium takeover. It's all on in the capital.
11 mins
January 08, 2026
Listen
Translate
Change font size