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30 Nov 2020 | 07:01

Frasers confirms £50m loan offer to Arcadia

(Sharecast News) - Frasers Group confirmed on Monday that it had offered a £50m loan to Philip Green's Arcadia retail group which is on the verge of administrations. "The company can confirm that it has made an offer and provided draft terms to the Arcadia Group for a loan of up to £50 million and is now awaiting a substantive response," Frasers, owned by Mike Ashley, said in a statement.

It added that should efforts to agree an emergency funding package fail and Arcadia fell into administration, Frasers "would be interested in participating in any sale process".

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