IS this a marriage made in high street heaven or another Philip Green-style asset strip?
Well, it looks as though Magpie Mike is willing to put 90 million of his Sports Direct pounds where his wealthy mouth is.
He is obviously looking to make a profit – after all, he’s a very successful businessman who is going to save thousands of jobs and reduce pressure on the crippled benefit system and increasing dole queues.
No doubt what he is paying will be more than covered by stock in trade and any properties owned by the House of Fraser Group, but the do-gooders have already started mouthing off that he won’t pay enough wages and he is not taking over the pension scheme.
And the remarks that they hope he runs it like it has been?
Hello, that’s why it’s gone bust.
He will succeed running a profitable, if drastically slimmed down, company that will survive unlike the House of Fraser stores that have now been Binned.
John Cumberland, Rushyford
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