Mike Ashley's Frasers Group has made a potential £83 million offer to buy luxury handbag maker Mulberry after the brand's troubling financial report, citing concerns over its future.
Frasers Group's acquisition approach stems from Mulberry's emergency £10.75 million share placement and significant losses, demonstrating the retailer's desire to avoid past mistakes like Debenhams.
Mulberry required cash due to a dramatic shift from a £13 million profit to a £34 million pre-tax loss, indicating severe sales decline in a challenging market.
Frasers, owning a 37% stake, reacted swiftly to Mulberry's financial struggles, highlighting their commitment to stabilize the brand against going into administration.
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