Frasers ups stake in N Brown to 20%
The news marks the latest in a series of moves by Frasers which was founded by retail tycoon Mike Ashley and is now run by his son-in-law Michael Murray
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Frasers Group has revealed it has increased its stake in fashion retailer N Brown to 20%, according to the latest holding documents filed by the company.
The pure play retailer’s brands include Jacamo, Simply Be and JD Williams and was founded in 1859 in Manchester – where its headquarters remain to this day.
The news comes as Frasers begins its battle against Morgan Stanley in the High Court.
Frasers sued Morgan Stanley in 2021 for allegedly acting in bad faith when it “tried to force” the retailer to close derivative positions it had entered with the bank to build up a position in Hugo Boss.
According to the retailer’s US filing, Morgan Stanley imposed a $995m (£812m) margin call on Frasers’ options in May 2021, forcing the retailer to incur losses of around €50m (£43.4m).
Alongside N Brown, the group upped its stake in Boohoo last week to 22% and also increased its stake in Asos to 25% for the third time in January.
Additionally, the group recently also acquired the Matches business from MF Intermediate Limited in a £52m deal.
