Mike Ashley to face shareholder anger at Sports Direct meeting September 10, 2019 Retail tycoon Mike Ashley is preparing to face frustrated Sports Direct shareholders at a meeting tomorrow following a turbulent year for the business. The founder and chief executive of the sportswear retailer has come under fire from shareholder advisory groups in the run up to tomorrow’s annual general meeting. Read more: Mike Ashley makes move [...]
British Land files legal challenge against Monsoon Accessorize CVA September 5, 2019 British Land has filed a legal challenge against Monsoon Accessorize’s recently agreed rescue plan, which will see the retailer slash rents across more than half its UK stores. The owner of Sheffield’s Meadowhall shopping centre is aiming to block the retailer’s company voluntary arrangement (CVA) following its approval in July, Sky News reported. Read more: [...]
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 [...]
Mike Ashley’s Sports Direct buys Jack Wills for £12.8m August 5, 2019 Retail tycoon Mike Ashley’s Sports Direct has bought struggling high street brand Jack Wills out of administration for £12.75m. Ashley won a race against British billionaire Philip Day, who owns the Edinburgh Woollen Mill Group, to snap up the “preppy” fashion retailer. Read more: Philip Day tables bid to avoid Jack Wills administration Will Wright [...]
Philip Day tables bid to avoid Jack Wills administration August 5, 2019 British billionaire Philip Day is taking on rival bidder Mike Ashley to keep struggling retailer Jack Wills out of administration. Day’s Edinburgh Woollen Mill Group’s (EWM) offer for the “preppy” fashion brand would seek to avoid a pre-pack administration, it was revealed as the bidding war between the two retail tycoons entered its final hours. [...]
Mike Ashley’s Sports Direct closes in on Jack Wills deal August 4, 2019 Retail tycoon Mike Ashley’s Sports Direct has emerged as the favourite to buy struggling fashion brand Jack Wills Sports Direct is the preferred bidder for the retailer and a deal could be struck as soon as tomorrow, Sky News reported. Read more: Mike Ashley and Philip Day in battle to buy Jack Wills Sources told [...]
A clash of visions at Sports Direct July 28, 2019 Mike Ashley once admitted that there was in fact another person who has really been running Sports Direct. She is a media-shy 51-year-old woman called Karen Byers. For almost three decades, Byers has been quietly working under Ashley as one of his core lieutenants, pulling 18 hour days and keeping a ruthless focus on the [...]
Sports Direct: What’s gone wrong for Mike Ashley? July 26, 2019 Even for an unpredictable retail tycoon like Mike Ashley, today’s strange turn of events is unprecedented. Sports Direct was set to release its full-year figures at 7am this morning, before suddenly postponing its statement and cancelling media interviews. Read more: Confusion reigns as Sports Direct delays annual results yet again With no explanation given as [...]
Sports Direct expected to post 20 per cent profit drop July 14, 2019 Sports Direct is expected to report a 20 per cent drop in profit following an acquisition spree by billionaire owner Mike Ashley. Profit before tax could slip from £152.9m to £122.06m, according to data from S&P Global Market Intelligence. Read more: Top Sports Direct executive leaves Mike Ashley’s firm Analysts said revenue is expected to [...]
Sports Direct hit with second senior departure in a week July 4, 2019 A senior figure within Mike Ashley’s Sports Direct has left the firm, marking the second high-ranking departure in under a week. The high street retailer’s company secretary Cameron Olson is leaving the firm to return to Australia for personal reasons, a spokesperson said today. The news, first reported by Press Association, comes just days after [...]