Mike Ashley faces shareholder showdown over re-election as Frasers boss October 6, 2020 Mike Ashley is facing a shareholders revolt at the Frasers Group annual general meeting tomorrow, following claims that employees were forced to work while furloughed during the coronavirus lockdown. Shareholder advisory service Pirc has recommended that investors oppose Ashley’s re-election as chief executive of the retail group, which was formerly known as Sports Direct. The [...]
Mike Ashley’s Frasers Group cuts executive pay amid coronavirus crisis April 1, 2020 Mike Ashley’s Frasers Group, formerly known as Sports Direct, has reportedly agreed to cut executive pay in order to continue to pay shop floor staff during the coronavirus crisis. Members of the retailer’s senior management team have agreed to reduce their basic pay to a maximum of £40,000 per year from May. The reduction will [...]
Landlord row forces House of Fraser to close another store February 6, 2020 Sports Direct boss Mike Ashley has been forced to close another House of Fraser store after being served notice by the landlord. The branch in Dundrum, near Dublin, will close within the next three months after the property’s landlord agreed a deal with Brown Thomas and Primark. Ashley warned in December that it was likely [...]
Mike Ashley’s Sports Direct bags stake in designer brand Mulberry February 3, 2020 Sports Direct owner Mike Ashley has snapped up a stake in British luxury handbag company Mulberry, as the billionaire businessman seeks to rebrand his company as a premium retailer. Sports Direct, which has recently been rebranded as Frasers Group, has taken a 12.5 per cent stake in the designer brand. The deal signals a further [...]
Mike Ashley’s Frasers Group to close six Jack Wills stores January 16, 2020 High street fashion brand Jack Wills has announced it will shut six stores, blaming “unhelpful” landlords for the closures. Mike Ashley’s Frasers Group, which bought the fashion retailer out of administration for £12.8m last year, today said shops in Bournemouth, Camberley, Cheltenham, Soho, Turo and Witney will close within the next month. Ashley’s retail empire, [...]
Mike Ashley’s Frasers Group urges PM to reform business rates system January 14, 2020 Mike Ashley’s Frasers Group, formerly known as Sports Direct, has written to the Prime Minister to ask him to urgently review the business rates scheme. In a letter to Boris Johnson, Frasers Group finance chief Chris Wootton urged the government to reform the transitional relief system, which he said results in some stores “paying the [...]
Game calls for ‘realistic’ rents as it closes 40 stores across the UK January 9, 2020 Game today urged its landlords to set “realistic” rents as the retailer confirmed it will close 40 stores across the country. The video game chain, which is owned by Mike Ashley’s Sports Direct, had already served notice to 13 sites, including Watford, Canterbury and Leicester. Read more: Sports Direct set for Game Digital takeover after [...]
Sports Direct shares soar on profit jump December 16, 2019 Sports Direct’s shares soared this morning as the retailer posted a jump in profit and revealed that it was beginning to see the “green shoots of recovery” at House of Fraser. The figures The company’s share price surged more than 30 per cent to 470p after the high street store said reported profit before tax [...]
Goals Soccer Centres: Sports Direct says ‘skulduggery’ wiped out shareholders October 23, 2019 Retailer Sports Direct has today blasted the management of Goals Soccer Centres after the five-a-side football firm delisted from Aim after an accounting scandal. Goals suspended shares in March after saying its financial results contained a misdeclaration of VAT, leaving a black hole in its accounts of more than £12m. Read more: Goals Soccer Centres [...]
Mike Ashley kicks off £4m takeover for Goals Soccer Centres September 23, 2019 Goals Soccer Centre has said it is discussing a takeover bid with high street tycoon Mike Ashley after his Sports Direct said it wanted to take the company private, valuing it at £3.76m. Sports Direct, of which Ashley is the main shareholder, said it was offering 5p a share for the just over 80 per [...]