Last checked at 22 May 2020 07:30
Date: 22 May 2020
Frasers Group Plc
("Frasers Group" or the "Company")
Media Release
Mike Ashley has sent a letter to all individuals within the Frasers Group in order to thank them for their support during the lockdown period.
The letter also notes the Government's proposals for the phased reopening of retail stores, which whilst not guaranteed may potentially see the Company's stores begin to open from June 1st 2020.
Further to this, during the lockdown period our online offering of sporting goods, fitness equipment and other products has continued trading.
Therefore, the Company has decided payments to virtually all directly engaged employees, including those on casual contracts, will remain at 100% of normal salary levels for May. This applies to both furloughed and non-furloughed employees.
Mike Ashley commented: "The Frasers Group is nothing without its people, and I want to thank them all for their continued support and hard work."
Senior management including Chris Wootton (CFO), Sean Nevitt (Head of Commercial) and the non-executive directors, will remain on a reduced annual salary capped at £40,000 at this time. As per normal, Mike Ashley will not be drawing a salary.
Ends.
Frasers Group Plc T. 0344 245 9200
Tom Piper, Company Secretary E. investor.relations@sportsdirect.com