More than 600 jobs at XPO Logistics are at risk after the collapse and subsequent sale of House of Fraser to Sports Direct, which has left the operator owed £30.4m. The department store group initially agreed a company voluntary arrangement in June. The business was subsequently put into administration with EY, and then the majority of assets sold to Mike Ashley’s Sport Direct for £90m on the 10 August. Sports Direct has been a major shareholder in the retail chain […]
Key factors leading to Surfair Global Logistics demise were the owner’s inability to spend “sufficient time” at the business, due to a family bereavement, and an “unexpected trading loss” after inaccurate reporting of the company’s financial position.
A union has condemned XPO Logistics and Sports Direct, as the House of Fraser supply chain impasse looks set to cost 300 jobs.