Frasers Group has acquired part of the intellectual property of Matches Fashion Limited, according to a statement from the Sports Direct owner. The deal is notable because earlier this year Frasers placed Matches in receivership and closed the doors of the e-tailer.
The press release stressed that only part of the intellectual property has been taken over and the deal does not involve any stock that Matches still had. Matches’ temporary administrators will continue the company’s operational activities, the statement said.
Matches Fashion was acquired by UK industry peer Frasers Group in late 2023. It meant a rescue for Matches, but it did not last long. In early March 2024, it became clear that Matches would close its doors despite the recent acquisition.
Frasers indicated at the time that despite several attempts, it had failed to make Matches profitable. Matches was placed in receivership and continued under administrators. What Frasers now plans to do with Matches’ reacquired intellectual property is not mentioned in today’s statement.
