Frasers Group Calls for Inquiry into Peacocks Sale
Frasers Group, owned by Sports Direct owner Mike Ashley, has called for an inquiry into the sale of Peacocks to a group backed by former owner Philip Day. The group questions the handling of the sale and is seeking transparency in the process.
Peacocks, a UK-based fashion retailer, was sold to a group of investors led by Day's former colleagues in February 2021. The sale came after Peacocks entered administration in November 2020 due to the impact of the COVID-19 pandemic on the retail industry.
Concerns over the Sale
Frasers Group has expressed concerns over the transparency of the sale process, including the role of the administrators and the valuation of the business. The group has also raised questions about the involvement of Day in the sale, given his previous ownership of Peacocks.
The call for an inquiry comes as the retail industry continues to face challenges due to the pandemic. Frasers Group is seeking to ensure that the sale of Peacocks was conducted fairly and transparently, with the interests of all stakeholders in mind.