Mike Ashley slams Debenhams for rejecting his £40m loan December 13, 2018 Retail tycoon Mike Ashley has launched a scathing attack on Debenhams today, claiming that the beleaguered department store giant has rejected a £40m interest-free emergency loan. In a letter addressed to Debenhams boss Sergio Bucher, the billionaire Sports Direct owner suggests that without the money the company "has zero chance of survival". Ashley, who controls [...]
Mike Ashley calls for online sales tax to revive high street December 3, 2018 Sports Direct billionaire Mike Ashley has urged the government to tax online retailers as he put up a spirited defence of his own retail operation in front of MPs today. In a fiery appearance in front of a parliamentary committee the retail tycoon said “web boys” that make over 20 per cent of their retail [...]
Retail magnate Mike Ashley prepares to give evidence about high street struggles to MPs November 26, 2018 Retail tycoon Mike Ashley is to give evidence about the woes facing the high street in front of a parliamentary committee next week after demanding an audience with MPs. Sports Direct confirmed today that the billionaire businessman is to face Westminster’s Housing, Communities and Local Government Committee for an hour-long session next Monday. The announcement [...]
Evans Cycles set for closures in spite of ‘profit’ November 18, 2018 Sports Direct owner Mike Ashley is set to close a swathe of Evans Cycles stores in spite of recent suggestions that most of its outlets turn a profit. The retail magnate has warned that he might only be able to keep half of Evans Cycles stores open in the future “in order to save the [...]
French Connection chief seeks to sell off controlling stake October 6, 2018 French Connection founder Stephen Marks is sounding out potential buyers for his controlling stake in the retailer, it emerged today, in a deal which could trigger a takeover of the whole business. Advisers from Numis Securities, acting on Marks' behalf, have been speaking to prospective bidders this week about the 42 per cent shareholding, sources [...]
Sports Direct’s Mike Ashley tees off in bidding war for American Golf October 5, 2018 Sports Direct owner and retail tycoon Mike Ashley is set to expand his business empire further, as it suggested he has tabled a bid for Britain's largest golf retailer American Golf. Ashley is among a number of interested parties in the American Golf takeover, including JD Sports Fashion, sources told Sky News. Deloitte, who is advising [...]
Former Manchester United and Chelsea chief exec Peter Kenyon in talks to buy Newcastle United September 29, 2018 The former chief exec of football clubs Manchester United and Chelsea is planning a sensational swoop to buy Newcastle United from retail tycoon Mike Ashley. Peter Kenyon, who now heads up a consultancy called Opto Advisers, has approached potential financial backers in recent weeks to raise cash for the deal. Sky News reported he was [...]
Mike Ashley must end the Sports Direct clowning if he is to be the high street’s hero September 13, 2018 Emptying his pockets of wads of £50 notes at a security check, telling a select committee about vomiting in a fireplace at board meetings – Sports Direct boss Mike Ashley is clearly not afraid of theatre. Against type, he has now chosen to play the part of white knight of the high street, but yesterday’s [...]
Mike Ashley must end the Sports Direct clowning if he is to be the high street’s hero September 13, 2018 Emptying his pockets of wads of £50 notes at a security check, telling a select committee about vomiting in a fireplace at board meetings – Sports Direct boss Mike Ashley is clearly not afraid of theatre. Against type, he has now chosen to play the part of white knight of the high street, but yesterday’s [...]
Philip Day’s Edinburgh Woollen Mill Group ends business with House of Fraser September 5, 2018 The Edinburgh Woollen Mill Group has ended business with House of Fraser due to lack of confidence in the business's future. The company, owned by retail tycoon Philip Day, said it had not been able to agree future trading terms with new owners Sports direct. Concessions for EWM's brands including Jaeger and Jacques Vert closed [...]