The group, which already owns Sports Direct, House of Fraser and Flannels has bought out the fast-fashion brand’s stores and online operations.
The undisclosed deal has been completed a buyout deal was agreed. The deal has already seen the company’s registered address change from Middlesbrough to Frasers’ headquarters in Shirebrook.
“After 38 years as an independent fashion retailer we have never seen such uncertainty surrounding the pandemic with local lockdowns, it is great to have the security and backing of one of the strongest UK retailers to continue employing our talented staff and serve our loyal customers. Merging with Frasers Group will allow us to grow and expand,” commented Steve Cochrane, Owner of Psyche who will continue to run it after the takeover.
