Frasers Group to Shutter Matchesfashion

Frasers Group is putting Matchesfashion into administration, just over two months after the retail giant acquired the struggling luxury e-tailer for £52 million ($66.6 million). The news was first reported by Sky News.

Frasers Group originally bought Matchesfashion (which rebranded to Matches late last year) to increase its position in luxury, but brands have begun to sever ties with Matches as some of them have not received payments for…