Frasers Group said to have bought Australian retailer Sneakerboy

Frasers Group has reportedly bought collapsed Australian luxury footwear and streetwear retailer Sneakerboy for an undisclosed sum.

The Australian Financial Review cited multiple sources as saying that staff members have been informed about the sale of Sneakerboy, which has been run by insolvency firm Hamilton Murphy since it collapsed in July.

It was understood that Frasers will keep Sneakerboy staff and run the business. It will assume employee entitlements, but it will not take on any other liabilities of the original Sneakerboy business.

It has also expressed an interest in keeping the leases of its remaining stores, the AFR said.