Sports Direct denies reports Mike Ashley may block sale of Debenhams’ Danish arm Magasin du Nord September 16, 2018 Sports Direct have this evening denied reports its boss Mike Ashley is attempting to block a sale of Debenhams' Danish business Magasin du Nord. Reports suggested Ashley had threatened to halt the £200m of the business by Debenhams, in which he already has a 30 per cent stake, in the hopes of forcing the business into [...]
Sports Direct denies reports Mike Ashley may block sale of Debenhams’ Danish arm Magasin du Nord September 16, 2018 Sports Direct have this evening denied reports its boss Mike Ashley is attempting to block a sale of Debenhams' Danish business Magasin du Nord. Reports suggested Ashley had threatened to halt the £200m of the business by Debenhams, in which he already has a 30 per cent stake, in the hopes of forcing the business into [...]
Sports Direct boss Mike Ashley could face a shareholder revolt this week at its annual general meeting September 2, 2018 Sports Direct boss Mike Ashley could face a shareholder uprising at the retail giant’s annual general meeting (AGM) on Wednesday. Influential shareholder advisory groups ISS and Glass Lewis have both urged investors to vote against Mike Ashley’s re-appointment as chief executive and have also come out against chairman Keith Hellawell. Ashley, who is currently struggling [...]
Why Mike Ashley’s retail gambles are a mistake | City A.M. July 20, 2018 When the fishes swim one way, I swim the other,” said Sports Direct supremo Mike Ashley last year describing his investment strategy. Despite this billionaire bombast, some of his investments are sinking and weighing down Sports Direct at the same time. The sportswear chain reported a sharp drop in annual profits yesterday, partly because of [...]
Mike Ashley to turn House of Fraser into ‘Harrods of the high street’ after £90m acquisition August 10, 2018 Mike Ashley has promised to turn House of Fraser into the "Harrods of the high street" after buying the company for £90m. Sports Direct issued a statement confirming that the acquisition includes all the UK stores, the brand and all the stock. It comes after the department store chain announced this morning that it is [...]
House of Fraser accused of reversing fur ban November 20, 2019 Retail tycoon Mike Ashley is facing accusations that he has overturned a ban on real fur at House of Fraser. Customers posted images on social media that appeared to show fur-lined coats found in store, despite the company’s previous no-fur stance. Read more: Sports Direct hit by ‘terminal’ House of Fraser problems Some shoppers pledged [...]
Sports Direct ends two-month wait for new auditor, appointing RSM October 23, 2019 Sports Direct has appointed an auditor two months after Grant Thornton quit as billionaire Mike Ashley’s company’s accountant. Read more: Sports Direct launches ‘skulduggery’ screed against Goals Soccer Centres RSM will now take up the post. The auditor had most recently stepped in to look after Patisserie Valerie’s accounts after the bakery chain became embroiled [...]
Nike pulls clothes and shoes from Amazon amid digital push November 13, 2019 Nike is pulling its clothes and shoes from e-commerce site Amazon as part of a pivot to selling directly to customers. Nike announced late on Tuesday that it was ending a pilot scheme to sell its goods through Amazon which began in 2017. “As part of Nike’s focus on elevating consumer experiences through more direct, [...]
Jack Wills stores at risk as Sports Direct kicks off landlord negotiations August 7, 2019 Sports Direct has begun to negotiate with landlords over rent cuts at Jack Wills stores, which could see some branches marked for closure by the end of this week. Mike Ashley’s company is seeking to slash rents at poor performing branches after acquiring the retailer earlier this week. Stores will be shuttered if a new [...]
Debenhams secures extra £50m funding for Christmas period October 10, 2019 Debenhams has secured an extra £50m from its lenders to support the struggling department store through the crucial Christmas trading period. Last month the retailer approached its investor consortium – which bought the company out of administration – for the additional financing, on top of the £200m secured in March this year. Read more: Debenhams [...]