The difficult economic situation, which is particularly acute in the fashion sector, has probably led the acquisitive Frasers Group to snap up Psyche, a British fashion retailer that offers about 200 high-end brands, such as Barbour and Boss, along with such heritage brands as Champion. The purchase price has not been disclosed. The company has a large store of 40,000 square feet in Middlesbrough and a web shop. In November, Frasers had already raised to 37 percent its stake in Mulberry, a high-end brand of leathergoods, reserving its right to make an offer for the remaining shares. Meanwhile, Frasers, which is the parent company of the Sports Direct chain, has reduced its stake in Studio Retail Group (SRG) from around 37 percent to 35.72 percent. SRG said its board had decided to launch a review of strategic options on Dec. 8, after receiving a suggestion to this end from Frasers. Formerly called Findel, SRG may not be strategically interesting for Frasers as it was before Fanatics bought its Kitbag subsidiary in 2016. However, its share price has almost doubled since the former Sports Direct International made an unsuccessful tender offer for all its shares in March 2020. Frasers is still a candidate for the acquisition of Debenhams, the bankrupt British department store chain.