With its stores set to remain shuttered until mid-April, Frasers Group has warned investors that it could face an impairment charge of over £100 million.
The non-cash charge would significantly impact the value of its assets, including freehold properties. The retail group owns numerous high street names, including Sports Direct, GAME, and House of Fraser.
In a statement today on the continuing Covid-19 restrictions, the company said: “Given the length of this current lockdown, potential systemic changes to consumer behaviour, and the risk of further restrictions in future, we believe this non-cash impairment could be in excess of £100m.”
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