Frasers Group, the parent company of Sports Direct, has warned that it could take a hit of more than £200 million (€230m-$275m) due to Covid-related restrictions. This would be double the previous estimate it had made in February, when the company said it expected that the pandemic crisis would determine a £100 million non-cash writedown in the value of its properties and other assets. In an announcement to the London Stock Exchange on April 9, the group said it feared a new wave of the pandemic, which would almost inevitably lead to more restrictions on retailers. This is why the company now anticipates that material accounting non-cash impairments totaling more than £200 million will be required. Despite the announcement, the company’s stock price increased slightly after an initial dip. Controlled by Mike Ashley, Frasers Group is the parent company of Sports Direct and many other operations including House of Fraser, Evan Cycles and Flannels.