Sportswear retailer Frasers will book a non-cash charge that could exceed £200m in its 2020-21 results to account for impairment of assets during the latest Covid-19 lockdown, it said today.
Frasers, previously called Sports Direct and controlled by Mike Ashley, in February forecast a potential charge of more than £100m.
The company said it expects to make material accounting impairments toassets including freehold properties, other property, plant and equipment.
"In our ongoing assessment we note the continuing government and government adviser pronouncements regarding 'third waves' and normality being 'some way off', meaning further restrictions are in our view almost certain," the group said.
While its shops have been closed Frasers has been able to serve customers online.
