Sports Direct International is set to change its name to Frasers Group to reflect a “changing profile and consumer proposition” which is part of its “elevation” strategy.

The rebranding is expected to take place after a shareholder meeting on 16 December.

The name change reflects group boss Mike Ashley's acquisition of House of Fraser last year for £90 million in a pre-pack administration deal, with the department store chain also due to simplify its title to Frasers.

Currently, the House of Fraser flagship in Glasgow operates under the Frasers name, with a new Wolverhampton store recently announced as the start of a rollout for the more upmarket fascia; aimed at turning the brand into the "Harrods of the High Street”.

Sports Direct said the new Frasers store concept would “house the core areas of focus for the wider business – iconic brands, beauty, sports and luxury fashion”.

Once the rebrand takes place, Frasers Group will encompass Sports Direct, House of Fraser, Flannels, Evans Cycles, Jack Wills, Sofa.com, Game Digital and USC.

Sports Direct’s most recent full-year financial report was followed by admissions from Ashley that House of Fraser’s problems were “nothing short of terminal in nature”, although creditors did extended its administration for another full year.

As a result, further House of Fraser store closures are expected following the Christmas season.

Seperately, Sports Direct said it would not acquire any more distressed retailers until politicians introduce better protection for shareholders.

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