Sports Direct holds an 11.1pc stake in House of Fraser, as well as a 27.5pc stake in rival retailer Debenhams. House of Fraser declined to comment. News of Mr Ashley's approach to House of Fraser's advisers, which was first reported by Sky News, comes as the department store company grapples with an uncertain future. House of Fraser is facing a battle to stay solvent until the autumn after C.Banner last week put on hold a deal to pump in £70m of new capital in return for a 51pc stake.