UK retailer Frasers to book 100 mln pound lockdown charge
23/02/2021 07:17
LONDON, Feb 23 (Reuters) - British retailer Frasers said on
Tuesday it will book a non-cash impairment charge, which could
be in excess of 100 million pounds ($141 million), in its
2020-21 results to account for impairment of its assets due to
the latest COVID 19 lockdown.
Frasers FRAS.L , formerly Sports Direct, said it
anticipated making material accounting impairments to freehold
properties, other property, plant and equipment, and right of
use assets after the UK government said non-essential shops in
England would not open until April 12 at the earliest.
($1 = 0.7107 pounds)
(Reporting by James Davey, Editing by Paul Sandle)
((james.davey@thomsonreuters.com;))