Less Ads, More Data, More Tools Register for FREE

Pin to quick picksFrasers Group Share News (FRAS)

Share Price Information for Frasers Group (FRAS)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 848.50
Bid: 846.50
Ask: 847.50
Change: -9.00 (-1.05%)
Spread: 1.00 (0.118%)
Open: 863.00
High: 863.50
Low: 845.00
Prev. Close: 857.50
FRAS Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Frasers Group to review estate after 'worthless' rates relief Budget package

Fri, 05th Mar 2021 07:02

(Sharecast News) - Mike Ashley's Frasers Group said it may have to close unviable stores after what it called a "near worthless" package of business rates relief in the Budget.
Frasers said the £2m rates cap on businesses from July 2021 to March 2022 to help hard-hit retailers through the Covid-19 crisis, "makes it a near worthless support package for large retailers". The measure was unveiled by Finance Minister Rishi Sunak in his Budget on Wednesday.

"For Frasers Group this cap will make it nearly impossible to take on ex-Debenhams sites with the inherent jobs created. It will also mean we need to review our entire portfolio to ascertain stores that are unviable due to unrealistic business rates."

The company, which owns Sports Direct, House of Fraser, Flannels and Evans Cycles, called for an overhaul of the existing system, and added that the latest measures would stop it taking over former Debenhams stores.

Frasers said many retailers would have expected suitable relief "until structural reform is implemented", adding that firms "should pay the fair amount of rates in line with realistic rateable values" but instead continue to labour under "an unwieldy, overly complex, and out of date business rates regime".

Debenhams' brand and website were bought by fast fashion e-tailer Boohoo for £55m in January, leaving the chain's remaining 124 High Street stores in limbo.

Frasers last week said it expected to take a hit of more than £100m after the government said non-essential retailers in England would have to wait until 12 April at the earliest to reopen. Frasers Group said the sum reflected expected writedowns of the value of its properties and other assets.

Sunak extended until July a business rates exemption for hospitality businesses including restaurants and pubs have been hit hard by the coronavirus pandemic

The extension will be followed by a further six-month period where rates will be discounted to one third of the normal charge, up to a maximum of £2m for closed businesses.

Tax and spending elements of Sunak's plans were severely criticised on Thursday by the influential Institute for Fiscal Studies as undeliverable.



More News
16 Sep 2022 08:37

MySale hits out at Frasers takeover bid as chair steps down

(Alliance News) - Frasers Group PLC's bid to take full ownership of online retailer MySale Group PLC received a blow on Friday, after the AIM listing said a GBP14 million bid is too low.

Read more
13 Sep 2022 15:59

UK earnings, trading statements calendar - next 7 days

Wednesday 14 September 
Advanced Medical Solutions Group PLCHalf Year Results
Anpario PLCHalf Year Results
Artisanal Spirits Co PLCHalf Year Results
BioPharma Credit PLCHalf Year Results
Blackbird PLCHalf Year Results
Central Asia Metals PLCHalf Year Results
Diurnal Group PLCHalf Year Results
Dunelm Group PLCFull Year Results
Epwin Group PLCHalf Year Results
Glenveagh Properties PLCHalf Year Results
ITM Power PLCFull Year Results
Niox Group PLCHalf Year Results
Pan African Resources PLCFull Year Results
Pharos Energy PLCHalf Year Results
Redrow PLCFull Year Results
Ricardo PLCFull Year Results
STM Group PLCHalf Year Results
Tullow Oil PLCHalf Year Results
Thursday 15 September 
Big Technologies PLCHalf Year Results
Brooks Macdonald Group PLCFull Year Results
Checkit PLCHalf Year Results
DFS Furniture PLCFull Year Results
Downing Renewables & Infrastructure Trust PLCHalf Year Results
Foresight Solar Fund LtdHalf Year Results
Gresham House PLCHalf Year Results
Hilton Food Group PLCHalf Year Results
IG Group Holding PLCQ1 Results
IGas Energy PLCHalf Year Results
Keystone Law Group PLCHalf Year Results
Kier Group PLCFull Year Results
MJ Gleeson PLCFull Year Results
Oxford BioMedica PLCHalf Year Results
Portmeirion Group PLCHalf Year Results
Regional REIT LtdHalf Year Results
Renishaw PLCFull Year Results
RTW Venture Fund LtdHalf Year Results
THG PLCHalf Year Results
Trainline PLCTrading Statement
Wickes Group PLCHalf Year Results
Friday 16 September 
Dunedin Enterprise Investment Trust PLCHalf Year Results
Monday 19 September 
City of London Investment Group PLCFull Year Results
Craneware PLCFull Year Results
Haleon PLCHalf Year Results
IQGeo Group PLCHalf Year Results
Tuesday 20 September 
Alliance Pharma PLCHalf Year Results
ASA International Group PLCHalf Year Results
Belluscura PLCHalf Year Results
Brown Advisory US Smaller Cos PLCFull Year Results
Cambridge Cognition Holdings PLCHalf Year Results
EKF Diagnostics Holdings PLCHalf Year Results
Elixirr International PLCHalf Year Results
Feedback PLCFull Year Results
Fintel PLCHalf Year Results
First Tin PLCHalf Year Results
Frasers Group PLCFull Year Results
Gaming Realms PLCHalf Year Results
Good Energy Group PLCHalf Year Results
Henry Boot PLCHalf Year Results
HydrogenOne Capital Growth PLCHalf Year Results
Jadestone Energy PLCHalf Year Results
Kingfisher PLCHalf Year Results
Litigation Capital Management LtdFull Year Results
Moonpig PLCTrading Statement
Northcoders Group PLCHalf Year Results
Spectral MD Holdings LtdHalf Year Results
SThree PLCTrading Statement
Unbound Group PLCHalf Year Results
Xaar PLCHalf Year Results
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

Read more
13 Sep 2022 09:26

Eurowag replaces Frasers in FTSE 250 as retailer returns to FTSE 100

(Alliance News) - WAG Payment Solutions PLC, known as Eurowag, on Tuesday joined the FTSE 250, replacing Frasers PLC which ascended to the FTSE 100.

Read more
12 Sep 2022 15:29

PRESS: Frasers eyes Savile Row outfit as latest retailer to rescue

(Alliance News) - Frasers Group PLC is plotting a takeover of a struggling tailor situated in London's iconic Savile Row street, Sky News reported on Sunday.

Read more
12 Sep 2022 07:42

Frasers Group reportedly eyeing up Gieves & Hawkes

(Sharecast News) - Troubled Savile Row tailor Gieves & Hawkes is being eyed up by Mike Ashley's Frasers Group, it emerged over the weekend, after its Hong Kong owner fell into liquidation.

Read more
9 Sep 2022 12:29

Meggitt takeover by Parker-Hannifin approved by UK court

(Alliance News) - Meggit PLC on Friday said its planned takeover by Parker-Hannifin Corp has been sanctioned by a UK court.

Read more
8 Sep 2022 19:14

Frasers to finally return to FTSE 100, replacing outbound Meggitt

(Alliance News) - Frasers Group PLC will return to London FTSE 100 benchmark next week, replacing Meggitt PLC which is on its way out after accepting a takeover bid.

Read more
23 Aug 2022 12:04

LONDON MARKET MIDDAY: Stocks in red as UK manufacturing PMI plummets

(Alliance News) - A mixed bag of UK PMI readings weighed on stocks in London on Tuesday, offsetting gains from oil majors as concerns over Russian energy supply lifted commodity prices.

Read more
17 Aug 2022 15:39

UPDATE: MySale to evaluate GBP14 million offer from Frasers Group

(Alliance News) - MySale Group PLC on Wednesday responded to the takeover offer from Frasers Group PLC, and said it will "evaluate" the offer.

Read more
17 Aug 2022 13:35

Frasers Group tables all-cash offer for Australian rival MySale

(Sharecast News) - Frasers Group tabled an all-cash offer for its smaller Australian rival MySale in a bid to grow its presence Down Under.

Read more
17 Aug 2022 12:27

Frasers Group makes GBP14 million bid to take full ownership of MySale

(Alliance News) - Frasers Group PLC on Wednesday announced a takeover offer for Australian online retailer MySale Group PLC, in which it is already the largest shareholder.

Read more
12 Aug 2022 14:29

Frasers Group sells 'some' retail parks for £205m

(Sharecast News) - Frasers Group said it has completed the sale of some retail parks for £205 million.

Read more
11 Aug 2022 19:13

Frasers Group sells retail parks for GBP205 million

(Alliance News) - Frasers Group PLC on Thursday said it has completed the sale of some retail parks for GBP205 million.

Read more
28 Jul 2022 11:30

IN BRIEF: Frasers buys online fashion retailer I Saw It First

Frasers Group PLC - Shirebrook, England-based retail group, including House of Fraser and Sports Direct - Buys online fashion retailer I Saw It First Ltd, for an undisclosed amount. Says that I Saw It First will benefit from the "strength and scale" of Frasers's platform and will be integrated with fast-fashion retailer Missguided Ltd. Back in June, Frasers bought Missguided out of administration for GBP20 million. Frasers notes I Saw It First has more than 5 million consumers and has grown rapidly since its launch in 2017.

Read more
28 Jul 2022 08:37

Frasers Group buys I Saw It First

(Sharecast News) - Frasers Group on Thursday said it was buying fast fashion firm I Saw It First for an undisclosed sum.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.