Frasers Group reported to be close to buying Savile Row tailor
But it has faced uncertainty ever since its Hong Kong-based owner collapsed into liquidation last year.Retail billionaire Mike Ashley has been one of the High Street's most prominent and colourful figures since founding his business 40 years ago.
Mr Ashley recently stepped down from the board of Frasers Group but remains the group's controlling shareholder. He had already handed over the running of the group to his son-in-law Michael Murray earlier this year.Russ Mould, investment research director at AJ Bell, told the BBC's Today programme that there were two reasons Gieves & Hawkes would be an attractive purchase for Frasers Group."It's bought lots of businesses out of liquidation or that have gone into financial difficulty - Evans, Jack Wills, Missguided - it looks to be doing the same now again with Gieves & Hawkes.
"Secondly, Frasers was developing under Mr Ashley, and now Michael Murray, a plan to go upmarket and let's face it, a Savile row tailoring brand is pretty upmarket."More on this story
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