Frasers Group says the current uncertainty caused by the Covid-19 “shock” is affecting its bank credit lines and its suppliers’ credit insurance. It understands that the majority of new credit insurance cover has been withdrawn for the time being. The British group, formerly called Sports Direct International, reports that it has not been accepted as eligible under a government loan scheme, the Covid Corporate Financing Facility (CCFF), which is intended for companies with a large number of employees in the country that were in sound financial health prior to the lockdowns triggered by the epidemic. On the other hand, Frasers confirms that it has settled a Belgian tax issue for an “immaterial” amount.

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