It may feel like déjà vu, but the big news on Monday evening was that Frasers Group is making another acquisition. And the subject this time? Luxury e-tailer Matches.

But didn’t Frasers already buy Matches just before Christmas? Yes, it paid £52 million for the business that had carried a value of over £800 million a few years earlier. But then early last month it put the firm into administration as it admitted that the turnaround was just too big a task in its current form.

Early on Monday evening, through a stock exchange notification, Frasers Group said it had “reached an agreement with the Joint Administrators of the online fashion retailer Matches Fashion Limited (in Administration) to acquire certain intellectual property assets only”.

It added that the “transaction was completed following an extensive marketing process by the Joint Administrators and under the terms of this transaction FG has granted a licence that allows the Joint Administrators to sell the stock Matches holds through a period of continued trading for the benefit of the Administration.

“Brands and suppliers should be aware that all stock held by Matches does not form part of the transaction and the Joint Administrators continue to manage all operations of the business for the benefit of the Administration.”

Beyond that, we don’t know what its plans are for the business and whether Matches will arise phoenix-like from the ashes. Nor do we know how much it paid for the business.

Matches has been operating under the control of the administrator ever since Frasers threw in the towel and there have been plenty of news stories about the extent of its debts and how much — or little — creditors will get back. We’d also been told last week that the administrators were looking at multiple bids that had come in for parts of the company and there had been widespread speculation that Frasers would aim to buy back control of an e-tail brand that it clearly valued as recently as late last year.

As for its future plans, for now we’ll just have to wait until the group decides to share its strategy.