Major retailer puts two more companies under management after luxury brand

A MAJOR retail group has called in administrators for a further two of its businesses after closing one of its luxury brands just weeks ago.

Frasers Group acquired Base Childrenswear and Kids Cavern as part of a £47.5 million deal in December 2022.

Other companies were bought out as part of the deal, including Pretty Green and Tessuti.

But the retail group brought in administrators for both Base Childrenswear and Kids Cavern just 16 months later.

Base Childrenswear currently has four stores in Westfield London, Westfield Stratford, Bluewater and Birmingham.

Meanwhile, Kids Cavern has three stores in the UK: Liverpool, Manchester and Newcastle.

But sales have stopped at all seven branches after Frasers Group called in administrators Kroll Advisory, reports Drapers.

It is not yet clear whether the seven branches are guaranteed to close.

We’ve asked Frasers Group how many stores will close as part of the administration process and we’ll update this story once we hear back.

It comes after Frasers Group placed luxury brand Matchesfashion into administration earlier this month after saying it was no longer prepared to keep the business running.

The brand launched as one store in Wimbledon, London 30 years ago and now has around six locations, although it operates mainly online.

As of March 8, no store closures or job losses had been announced.

Frasers, owner of brands such as Sports Direct, Frasers, Slazenger and Jack Wills, bought out Matchesfashion in December last year.

The brand employs just under 700 people, but Frasers said the company was “consistently” missing targets and making losses.

In the year to the end of January 2023, the brand made a loss of £33.5m.

It comes as Frasers Group shakes up its portfolio in the UK amid a turbulent time for retailers.

House of Fraser, also owned by Frasers Group, will close its Carlisle store in May.

The chain has closed several stores since last year, including in Birmingham, Cardiff and Guildford.

A Sports Direct branch in Stroud, Gloucestershire, will also pull down the shutters for good at the end of March.

Sports Direct also closed its branch in Central Six Retail Park, Coventry, at the end of January.

The Flannels location in the Market Place Shopping Centre, Bolton, has downed its shutters for the final time in the new year.

It also closed its site in Bradford in January, despite only opening in October.

However, Frasers Group has also opened stores in the United Kingdom.

In recent months it has welcomed customers to ‘new concept’ stores selling brands from across the group, including Sports Direct and Jack Wills.

Last September the company cut the ribbon on one of its stores in Norwich and opened two more stores in Blackpool and Sheffield in recent months.

In addition, it has plans to open one of the concept stores on a former John Lewis site in the Queensgate Shopping Centre, Peterborough, by the end of 2025.

The company has also recently opened Liverpool’s famous Compton House and will reopen the site as Sports Direct’s flagship branch.

Frasers Group also acquired luxury chain Choice in 2022 and has since rebranded some of them as Flannels.

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