MySale share price collapses: Sir Philip Green and Mike Ashley lose millions after slump December 15, 2014 MySale shares collapsed by 52 per cent yesterday, costing its backers Sir Philip Green and Mike Ashley millions of pounds, after the flash sales website warned on profits, The company said pre-tax profits for the year to 30 November were expected to be “materially below market expectations”, despite reporting double-digit rise in sales. It blamed [...]
Sports Direct chairman Keith Hellawell grilled over “callous” USC administration, zero hour contracts and “back street” tactics September 1, 2015 Sports Direct chairman Keith Hellawell faced a grilling by MPs today over the company's administration of USC – but if Mike Ashley thinks he dodged a bullet in not appearing, he might want to think again. Chairman Ian Davidson MP and the rest of the Scottish Affairs Committee quizzed Hellawell, who appeared as the sole representative [...]
Mike Ashley to make £2m loan to Rangers FC October 27, 2014 RANGERS chief executive Graham Wallace has resigned after less than a year in the role, as the Scottish football club accepted a £2m loan from Newcastle owner Mike Ashley. In a statement issued yesterday, Rangers’ board thanked Wallace for “his contribution to the club during a difficult period”. Wallace was appointed chief executive in November [...]
Mike Ashley positions former Newcastle United MD Derek Llambias as Rangers director November 3, 2014 Former managing director of Newcastle United Derek Llambias has been appointed non-executive director of Rangers, after being nominated by Mike Ashley's venture Mash Holdings. Llambias, who is a long-time associate of Ashley, had been acting as a consultant for the club after the sudden departures of chief executive Graham Wallace and finance director Philip [...]
Sports Direct brushes off England’s early World Cup exit but results show even Mike Ashley can’t predict the weather December 11, 2014 Sports Direct has brushed off England's disappointing World Cup performance but it seems owner Mike Ashley is not immune to the unseasonal weather. The figures Group revenue rose 6.5 per cent to £1.4bn in the six months to 26 October. Underlying earnings before interest, taxes, depreciation, and amortisation rose 11pc to £203.1m, excluding charges related to the [...]
Countdown to Christmas: From Volkswagen’s emissions scandal and Ed Ball’s surprise defeat at the General Election to the Paris terror attacks, these are the most surprising news stories of 2015 December 20, 2015 Some news you register with perhaps a shrug of the shoulder, while other stories might prompt an arched eyebrow. There are some events, however, that make you sit up and pay attention. This year was not without a few of those key moments – good and bad – that gripped us. Here are the most [...]
Rangers’ finance chief Philip Nash resigns after Mike Ashley oust threat October 25, 2014 Glasgow Rangers' share price tumbled this afternoon on the news that director Philip Nash quit, three weeks after Mike Ashley called for his removal. Nash, who had prior stints as finance chief of both Liverpool and Arsenal, was brought in at the start of the year to help improve the club's standing after it [...]
Mike Ashley’s Sports Direct takes a punt on Tesco’s share price September 25, 2014 Mike Ashley isn't averse to taking a flutter. This time, the Newcastle United owner has taken a bet on Tesco – his company, Sports Direct, has entered into a put option agreement with Goldman Sachs on 23 million of its shares, which could leave it with a 0.28 per cent stake in the retailer, worth [...]
Sports retailer defies odds to increase sales July 16, 2015 SPORTS Direct managed to shrug off a year of bad press surrounding its use of zero-hours contracts, as well as England’s early exit from the World Cup, to increase revenue and profit in the 12 months to April 2015. Group revenue rose by 4.7 per cent to £2.83bn, from £2.71bn in 2014, helped by its [...]
From the Apple iPhone 6s launch and Labour’s mayoral race to the refugee crisis and Sports Direct: Here’s what got us talking this week September 11, 2015 There was a record breaker. There was some space whisky. And somewhere in the heart of the City, there was a good old-fashioned knees up. Here's what got us talking this week 1) The bus driver's son won Sadiq Khan beat favourite Tessa Jowell to become the Labour candidate for London Mayor in 2016, [...]