Frasers Group in talks on redundancies at acquired JD Sports labels - report
Frasers Group is set to cut staff numbers from among the raft of fashion brands it bought from JD Sports Fashion recently. The number oflayoffs could amount to around 90 employees.
Frasers Group paid JD £47.5 million for 15 brands in the surprise move first announced in December. The deal was finalised in early February and included Tessuti, Cricket, Pretty Green, Missy Empire, Giulio, Scotts, Cricket, and Choice. Nicholas Deakins, Prevu Studio, Watch Shop, Base Childrenswear, Clothingsites (including Brown Bag Clothing) were sold to Frasers earlier.
A report from retail expert Eric Musgrave said a consultation process is under way at some of the businesses ahead of the expected redundancies with some members of staff having been offered alternative employment at Frasers’ Derbyshire headquarters.
On announcing the sale of the businesses, JD had said they were all “non-core” and that the divestures would allow it “to focus more fully on the opportunities across the rest of the group, in particular the international and digital expansion of core premium sports fashion”.
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