THG raises over £95m to aid Ingenuity demerger October 11, 2024 THG has raised more than £95m to help fund its planned demerger of its Ingenuity division. The Manchester-headquartered group, which includes City AM, confirmed on Thursday, 10 October, that it would press ahead with the demerger and revealed plans for a £75m fundraise led by boss Matthew Moulding. The London-listed firm said the demerger of [...]
Mike Ashley’s Frasers bets big on brick-and-mortar with 1m sq ft of new shopping malls October 8, 2024 Mike Ashley-owned Frasers group has announced the acquisition of over one million square feet of retail space across three shopping centres in a huge new bet on physical retail. The shopping centres – in Exeter, Maistone and Gloucester – have a combined annual footfall of almost 17 million visitors and 1.015 million square feet. The [...]
Mulberry founder suggests LVMH could be the right buyer for the brand October 7, 2024 Mulberry founder Roger Saul has suggested that French luxury behemoth LVMH could be the right company to step in and aid the struggling brand after it rejected an offer from Mike Ashley’s Frasers group last week. Saul, who launched the brand in the 70s before leaving in 2002, told This Is Money that Mulberry was [...]
Electrical supplier AO World snaps up Musicmagpie in near-£10m deal October 2, 2024 London-listed online retailer Musicmagpie will be snapped up by AO World as the electrical supplier looks to enhance its presence in consumer tech.
Ahead of the Game: Yorkshire land financial boost from Castore deal October 2, 2024 Yorkshire have agreed a multi-million pound kit deal with Castore in a major boost for the cash-strapped county. The five-year contract is the first significant commercial deal brought to the club since their leadership was overhauled following the return of Colin Graves as chairman in February. Graves has yet to secure the £4m outside investment [...]
Mulberry rejects Frasers £83m offer as too low October 1, 2024 British luxury brand Mulberry has rejected a possible takeover from minority shareholder Frasers Group on the grounds that it doesn’t recognise the company’s future value and will not lead the group back to profit. Frasers announced a possible takeover bid yesterday, 30 September, after it was snubbed from Mulberry’s £10m capital raise with majority shareholder [...]
Mike Ashley’s Frasers Group tables £83m Mulberry takeover bid after capital raise snub September 30, 2024 Mike Ashley’s Frasers Group has tabled a £83m takeover of Mulberry and launched a tirade against its board after allegedly being shut out of discussions over a £10m fund raise. The retail giant, which owns a 37 per cent stake in Mulberry, offered £83m for the rest of the luxury fashion brand, valuing each share [...]
Billionaire Dunelm founder’s son sells millions of shares in FTSE 250 homewares giant September 24, 2024 The son of the billionaire founder of Dunelm has sold millions of shares in the homewares retailer after the FTSE 250 company reported a rise in its sales and profit for its latest financial year. Sir Will Adderley, the son of Sir Bill Adderley, has lowered his stake in the Leicester-headquartered business from 32.3 per [...]
Mike Ashley’s Frasers Group sells shares in Asos following Topshop spike September 23, 2024 Frasers Group, the retail empire controlled by Mike Ashley, has lowered its stake in fast-fashion giant Asos. The Mansfield-headquartered group, which owns the likes of Sports Direct and House of Fraser, has decreased its holdings in Asos from 24.3 per cent to 21.1 per cent, according to a new filing with the London Stock Exchange. [...]
Hugo Boss: Profit slashed in ‘year of investment’ as sales dip from record high September 23, 2024 Profit at the UK arm of Hugo Boss was slashed by almost 50 per cent in a “year of investment” as its sales fell back from a record high, it has been revealed. The London-headquartered arm has reported a pre-tax profit of £16.8m for 2023, according to newly-filed accounts with Companies House, down from £30.4m [...]