Frasers Group pays £2 for Amara.com

Amara.com which was established in 2005 was sold in a pre-pack for £2m to the Frasers Group who own House of Fraser and Sofa.com.

Leading up to the sale Amara had sales of £18m, but suffered a trading loss of nearly £3m, they secured emergency funding in September last year but this failed to stem the tide with administration following at the end of November.

Unsecured creditors were owed over £7m at the time of administration, with over £200k of customer deposits. 

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