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Sports Direct saves House of Fraser in £90m eleventh-hour deal

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On this episode of Talking Shop, we're joined by Dan Cate, CEO and Founder of SoldThrough. Dan is a heavyweight retail executive who has spent decades steering the merchandising and digital operations of America’s most iconic retail institutions, from Saks Fifth Avenue and Bloomingdale’s to Century 21 and Lord & Taylor. Today, through his platform SoldThrough, Dan helps international fashion brands cross the Atlantic and crack the notoriously brutal U.S. retail landscape. We break down his journey from the shop floor to the C-suite, the operational indicators that prove a brand is truly ready for international expansion, and how to navigate a fragmented American market without destroying your margins. We also discuss how to balance localised inventory with central efficiency, and the one non-negotiable metric that tells you a product has found genuine market fit.

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Sports Direct has agreed to acquire House of Fraser for £90m in a deal that came just minutes after the department store chain entered administration.

A Sports Direct statement read: “The group has acquired all of the UK stores of House of Fraser, the House of Fraser brand and all of the stock in the business.”

The deal looks to have saved a number of jobs and stores from the axe at House of Fraser which employs 17,500 people across 59 stores.

All of the company’s stores were expected to open as usual this morning including those earmarked for closure.

Updates to follow.

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