Rangers and Sports Direct boss Mike Ashley has too much power, says IoD March 30, 2015 A respected business group has branded the Sports Direct board "dysfunctional" and warned there aren't sufficient checks on the powers of founder and majority owner Mike Ashley. The criticism, from the Institute of Directors, comes after Sports Direct chairman Keith Hellawell endured a tough grilling by MPs on the Scottish Affairs Committee last week, during [...]
Mike Ashley loans Rangers £10m which will be used to pay back loans from… Mike Ashley January 27, 2015 Rangers have agreed to take a £10m loan from Mike Ashley, which has been secured against the club's Murray Park training ground and registered trademarks. Ashley, who also owns Newcastle United, will take control of 26 per cent of the club's retail business as a result. The founder of Sports Direct has a 8.9 per [...]
Sports Direct share price drops by 10 per cent as growth slows and questions mount over working conditions December 10, 2015 Discount sports retailer Sports Direct has had one of its worse days on record, with its share price closing down over 10 per cent last night, wiping hundreds of millions of its market capitalisation. The sell off was due to a double whammy of missing analyst expectations for growth and further questions over staff working [...]
Sainsbury’s should focus on its core offer January 6, 2016 Sainsbury's and Home Retail Group do not at first glance appear obvious bedfellows. If perceptions count for anything, and they do in retail, then Sainsbury’s is very much a supermarket that attempts to cater for the British middle class. Home Retail Group’s Argos doesn’t. But for both the high street and supermarkets, these are desperate [...]
Gordon Ramsay buys Rangers stock to join Mike Ashley fight February 16, 2015 Celebrity chef Gordon Ramsay yesterday became the latest big name to join the Rangers First group of fan shareholders, as the association looks to thwart Sports Direct owner Mike Ashley’s attempts to gain control of the club. Former Rangers trainee Ramsay took to Twitter on Sunday to announce he had joined the movement. He [...]
Dave King claims a victory in Rangers war with Sports Direct owner Mike Ashley March 3, 2015 South African businessman Dave King yesterday claimed he had recorded a “landslide victory” in his bid to wrest control of Rangers’ boardroom. Rangers has been the subject of an ongoing tug-of-war between former club director King and Sports Direct owner Mike Ashley. King – who owns 14.5 per cent of Rangers’ shares – has called [...]
Rangers end Mike Ashley loan agreement but take £1.5m from Three Bears consortium March 23, 2015 Cash-strapped Rangers will receive a boost after Douglas Park, George Letham and George Taylor agreed to provide £1.5m loans to the football club. The loans from the group known as the "Three Bears consortium" are being made available until 31 December 2015 for working capital requirements and will be provided on an unsecured basis, meaning [...]
Mike Ashley weighs up bid for Evans Cycles January 26, 2015 SPORTS Direct founder Mike Ashley is looking to expand his retail empire after joining several suitors in considering a bid for Evans Cycles. Private equity group Active Capital hired Canaccord Genuity last year to find a buyer for the cycling specialist, which has 56 stores and employs around 1,200 people. Sports Direct is understood to [...]
Mike Ashley could face parliamentary investigation over USC February 2, 2015 Mike Ashley could face a grilling by Scottish MPs over the administration of USC, with politicians pressing to launch a full parliamentary investigation into his activities. The Scottish Affairs Committee is launching an inquiry into the fast fashion chain, with MPs last week branding the redundancies of more than 200 “despicable” and “appalling”. [...]
Sports Direct in talks to open Lillywhites concessions in House of Fraser November 15, 2015 Sports Direct is reported to be in talks with House of Fraser about introducing concessions of its famous Piccadilly store Lillywhites inside the department store chain. Dave Forsey, the chief executive of the sportswear group, has held early stage talks with House of Fraser boss Nigel Oddy, according to The Sunday Telegraph, which reported that proposals [...]