Frasers pulls out of SportScheck deal
Furthemore, the company reaffirmed its aim to become the “leading” sports retailer in EMEA
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Frasers has announced that it has pulled out of a deal to acquire SportScheck after the German sports retailer filed for administration.
As a result of this move Frasers is now looking to acquire the firm in a pre-pack deal.
The company stated that it has “exercised its right” to pull out of the deal after SportScheck’s parent company Signa Holdings filed for insolvency.
Frasers stated that it was “disappointed” by the insolvency of SportScheck, but that it continued to believe that SportScheck was an attractive asset in one of Europe’s most important markets for sports.
Furthemore, the company reaffirmed its aim to become the “leading” sports retailer in EMEA.
Frasers said in a RNS update: “It intends to work with the appointed preliminary insolvency administrator of SportScheck with a view to acquiring the SportScheck business/assets out of administration.”
