REG - Frasers Group PLC - Statement re Matches

FrasersAnnouncement

08/03/2024 07:02

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240308:nRSH0751Ga&default-theme=true

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              T. 0344 245 9200

 LEI: 213800JEGHHEAXIJDX34                     E. company.secretary@frasers.group (mailto: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 (mailto:frasersgroup@brunswickgroup.com)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  STRKZGGFRNFGDZM