Frasers Group reportedly eyeing SilkFred takeover

Frasers Group is said to be mulling a takeover of troubled e-tailer SilkFred. According to sources for Drapers, the British retail giant is one of three parties considering a takeover.

SilkFred appointed administrators from Quantuma in November after becoming “another victim of tough trading conditions”, the firm’s managing director, Andrew Watling, said. According to Quantuma, the multibrand e-commerce platform did not have enough money to pay its debts, yet “significant interest” is anticipated.

Drapers stated that Frasers Group has emerged as an interested party to potentially rescue SilkFred, alongside “one off-price retailer and one London-based high street womenswear brand”.

FashionUnited has contacted Frasers Group with a request to comment.

Launched in 2011, SilkFred set out to provide small, independent brands with a platform for them to both sell their products and gain exposure. According to Quantuma, the company offered around 600 brands at the time of its demise.

Since filing for administration, reports have emerged that the e-tailer has left brands in the dark surrounding payments, with debts said to have amounted to hundreds of thousands of pounds, Drapers said.