Matches Fashion to enter administration after making ‘material losses’

Yorkshire Post

Matches Fashion will be put into administration after parent company Frasers said it was unwilling to provide the money needed to keep the business going. Matches, which according to its latest accounts employed a little under 700 people, was making “material losses” and was “consistently” missing its target, Frasers said on Friday.

Transcript

00:00 Hello, my name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.

00:06 Here are your business headlines for this morning.

00:10 Matches fashion will be put into administration after parent company Fraser's said it was

00:15 unwilling to provide the money needed to keep the business going.

00:19 Matches which according to its latest accounts employs around 700 people was making losses

00:25 and missing its targets according to Fraser's.

00:29 Sports direct owner Fraser's said the money needed to keep matches running would be in

00:33 far excess of what it thinks is viable.

00:38 Fraser's only bought matches in December in a deal worth £52 million.

00:42 It's an update this morning that matches fashion will be put into administration after its

00:48 parent company said it was unwilling to provide the money needed to keep the business going.

00:53 My name's Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.

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Transcript

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