// Frasers Group is in advanced talks to buy beleaguered tailor Gieves & Hawkes
// The value of the deal is uncertain but will not be material in the context of Frasers’ size
Frasers Group in late-stage talks to seal a deal for Savile Row tailor Gieves & Hawkes.
Mike Ashley’s empire is swooping in for the 251-year-old Savile Row business after its Hong Kong-based owner fell into administration, Sky News first reported.
The value of the deal is uncertain but will not be material in the context of Frasers’ size.
Frasers, where Mr Ashley remains the majority shareholder has been eyeing the acquisition of Gieves & Hawkes since September.
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The group has been acquiring businesses at a rate. Back in June, Frasers bought Missguided out of administration for £20 million, beating off competition from Boohoo.
It is also nearing its takeover of Australian online retailer MySale and was one of the frontrunners to buy Made.com, which was snapped up by Next last week.
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