Frasers Group PLC Statement re Matches
08 Marzo 2024 - 1:00AM
RNS Regulatory News
RNS Number : 0751G
Frasers Group PLC
07 March 2024
Date: 7 March 2024
FRASERS GROUP
PLC
We note recent press coverage in
relation to MATCHES. Since Frasers Group plc ("Frasers" or "the
Group") acquired MATCHES, the business has consistently missed its
business plan targets and, notwithstanding support from the Group,
has continued to make material losses. Whilst MATCHES' management
team has tried to try to find a way to stabilise the business, it
has become clear that too much change would be required to
restructure it, and the continued funding requirements would be far
in excess of amounts that the Group considers to be viable. In
light of this, Frasers has been informed that the directors of
MATCHES have taken the decision to put the MATCHES group into
administration. Frasers remains committed to the luxury market and
its brand partners.
Ends
FRASERS GROUP PLC
|
|
Robert Palmer, Company Secretary
LEI: 213800JEGHHEAXIJDX34
|
T. 0344 245 9200
E. company.secretary@frasers.group
|
Chris Wootton, Chief Financial Officer
|
T. 0344 245 9200
E.
financial@frasers.group
|
Ronnie Laffar, Group Head of Communications
|
T. 07931
841082
E. fgpr@frasers.group
|
Andrew Kasoulis, Investor Relations Director
|
T. 07826
532191
E.
investor.relations@frasers.group
|
Rosie Oddy, Brunswick Group, PR Advisors
|
T. 07734 861279
E. frasersgroup@brunswickgroup.com
|
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END
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