Sports Direct delays results as House of Fraser deal backfires. For more:
) has delayed publishing its annual results, warning problems integrating its purchase of House of Fraser stores and increased scrutiny of its accounts could affect the financial guidance it gave in December.
“HoF is clearly a disaster area, so this is a serious situation,” independent retail analyst Nick Bubb said. On Monday, the company said it also now controlled video gaming retailer Game Digital, “thereby adding to the complexity of the business”, according to Bubb. Auditing has come under scrutiny after British builder Carillion and retailer BHS collapsed, and Grant Thornton was already being investigated by the FRC for an earlier audit of Sports Direct, and more recently of café chain Patisserie Valerie, which entered administration.
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