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Luxury clothing brand Matchesfashion to enter administration
New owner Frasers Group decides it is unwilling to fund turnaround
The luxury clothing retailer Matchesfashion is to enter administration after its new owner, Mike Ashley’s Frasers Group, said it was not willing to fund a turnaround. The business, which sells goods online and has three London stores, stocks a number of designer ranges including Prada and Gucci, and generates most of its revenue internationally, delivering to 150 countries outside the UK. Frasers Group, which was founded by high street tycoon Ashley and is now led by his son-in-law Michael Murray, started as a small store in Maidenhead in 1982.
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