The luxury clothing retailer Matchesfashion is cutting 273 jobs – more than half its workforce – after its new owner Mike Ashley’s Frasers Group called in administrators.
Matches was acquired by Frasers three months ago for £52m in cash from the private equity firm Apax Partners. Frasers said it was not willing to fund a turnaround after the business had “consistently missed its business plan targets” and made losses.
