Frasers Group warns of store closures after 'near worthless' budget support

Retailer says rates cap ‘will make it nearly impossible to take on ex-Debenhams sites’Coronavirus – latest updatesSee all our coronavirus coverageFrasers Group, the retailer controlled by the Sports Direct founder, Mike Ashley, has said it will be forced to close stores and cut jobs after a “near worthless” support package on business rates in the budget.The group, which includes Sports Direct, House of Fraser, Flannels and Evans Cycles, said that retailers need a c