As news broke of Turkish online retailer Trendyol making a bid for ASOS back in December, it has emerged that Frasers has increased its stake in ASOS to 8.8 per cent. This apparently follows an offer from Frasers to support the business financially for an additional five per cent stake.
The ASOS board had rejected this, choosing instead to re-finance with Bantry Bay.
Meanwhile, confidence among ASOS’ key suppliers has reached an all-time low with a number of them now refusing to continue to supply or extend credit to the business.
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