Sporting chance: Mike Ashley linked with House of Fraser talks

Sports Direct tycoon Mike Ashley and House of Fraser have discussed a new investment deal for the struggling retailer, according to reports. The billionaire, who already owns an 11 per cent stake in the embattled department store group, is said to have been asked to consider providing it with a £50 million loan. House of Fraser announced plans to close 31 of its 59 stores in June, putting 6,000 jobs at risk. However, a legal challenge has raised the prospect the rescue bid may fail. Ashley also has a stake in Debenhams.