The company also agreed to act as guarantor in respect of certain payments in respect of the SRG group pension scheme to the satisfaction of the trustees, Frasers Group said in a media release.
As Frasers Group seeks to elevate its customer journey including a flexible repayment proposition, the acquisition of SRL will provide Frasers Group with expertise and synergies that will accelerate this ambition.
“Frasers Group is pleased to have rescued another business out of administration and saved approximately 1,500 jobs,” the company said in the release.
ALCHEMPro News Desk (KD)
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