Sports Direct owner warns over €230m Covid-19 hit

Frasers Group owns Sports Direct (Joe Giddens/PA)

Sports Direct owner Frasers Group has warned it could take a hit in excess of £200m (€230m) due to the Covid-19 restrictions – double its previous estimate in February.

The retailer said it believes further restrictions are “almost certain”, believing a writedown against freehold values and other non-cash impairments will be required.