Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner. Facebook Messenger An icon of the facebook messenger app logo. Facebook An icon of a facebook f logo. Facebook Messenger An icon of the Twitter app logo. LinkedIn An icon of the LinkedIn logo. WhatsApp Messenger An icon of the Whatsapp messenger app logo. Email An icon of an mail envelope. Copy link A decentered black square over a white square.

Frasers pulls out of deal to buy Germany’s SportScheck

Frasers agreed to buy the business in October (Aaron Chown/PA)
Frasers agreed to buy the business in October (Aaron Chown/PA)

Mike Ashley’s Frasers Group has pulled out of the deal to take over Germany’s SportScheck, which it had initially agreed to buy in October.

The retailer said that it was “disappointed” by the company’s insolvency, but that it hoped to still buy the sports retailer’s business or assets out of administration.

Frasers agreed a takeover of SportScheck with parent company Signa Retail Department Store Holding in October. It did not reveal how much it planned to pay for the business.

SportScheck has 34 shops in Germany and brings in revenues of around 350 million euro (£303 million).

“SportScheck GmbH has today filed for insolvency. Frasers has exercised its rights under the agreement to withdraw from the transaction,” Frasers told shareholders on Thursday.

“While Frasers is disappointed by the insolvency of SportScheck, it continues to believe that SportScheck is an attractive asset in one of Europe’s most important markets for sports and it intends to work with the appointed preliminary insolvency administrator of SportScheck with a view to acquiring the SportScheck business/assets out of administration.”

On Wednesday, Austria’s Signa Holding, which owns part of London’s Selfridges and properties around the world, filed for administration.

Two weeks ago the company sold part of its share in Selfridges to Thailand’s Central Group. It happened after Signa, which was built by Rene Benko, called in restructuring experts.

Mr Benko was ousted earlier in November as the company tried to secure its future. Signa also owns part of New York’s Chrysler Building.