What’s Mike Ashley’s game with Debenhams? March 8, 2019 Mike Ashley is consistent in the way he always manages to surprise us. On Thursday night in a post-market RNS the Sports Direct boss announced he was planning a boardroom cull at Debenhams, installing himself as chief executive officer. Only the recently appointed Rachel Osborne would survive the cull. On Tuesday, after Debs warned on [...]
Mike Ashley is now the high street’s emperor August 12, 2018 Events around House of Fraser moved so fast on Friday morning that people could have left their house to the news that the retailer had collapsed into administration and would have got to work in time to hear it had been rescued. Mike Ashley’s Sports Direct swooped to the department store’s aid, paying £90m for [...]
To buy or not to buy: The never-ending twists in Mike Ashley’s retail plan February 11, 2019 What on earth is Mike Ashley’s plan? That is the question echoing around the City every time the retail tycoon emerges as an unlikely buyer of another beleaguered high street brand. It is almost a weekly occurrence these days, and one that leaves journalists, shareholders, and even some of Ashley’s own directors scratching their heads [...]
The high street can be saved if physical shops and online retailers collaborate and use data March 5, 2019 In January, affiliate marketing company Awin released research showing that 39 per cent of Britons wouldn’t really mind if we lost all high street stores altogether, with over a third of respondents saying that they “almost never” shopped there anyway. News stories about high street stalwarts being in the doldrums have become a recurring theme, from [...]
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 [...]
Personal insolvencies reach seven-year high as credit squeezed and wages stagnate January 29, 2019 The number of people in England and Wales turning to insolvency to deal with debt problems has risen to a seven-year high as consumer credit tightens and wages stagnate. There were 34,108 individual insolvencies in the fourth quarter, an increase of 34.8 per cent on the third quarter. In 2018 the number of people who [...]
Mike Ashley throws accusations at administrator as he abandons bid for cake shop Patisserie Valerie February 11, 2019 Retail tycoon Mike Ashley has pulled his bid for scandal-hit Patisserie Valerie, lashing out with claims the cafe chain’s administrators withheld vital information. Ashley’s Sports Direct said today it was “reluctantly” withdrawing its bid to lift the struggling firm out of administration, just two days after the offer was tabled. Read more: Sports Direct makes [...]
Debenhams names new finance boss August 22, 2018 Debenhams has named Rachel Osborne as its new chief financial officer at a crucial time for the retailer amid the crisis on the high street. Osborne is currently finance boss of Domino's Pizza Group, but announced a sudden departure in June, sending the company's shares down five per cent. She was the third CFO of Domino's in [...]
Online retail to be Next’s summertime saviour as hot weather boosts sales September 23, 2018 Fast fashion stalwart Next is preparing to reveal its half year results to investors on Tuesday, with many eager to see whether its online sales uptick continued throughout the UK’s extended hot summer. The retailer had previously warned earlier this year that it was facing its toughest trading conditions in 25 years as customers [...]
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 [...]