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High Street

Mike Ashley acquires Sofa.com

Sports Direct owner Mike Ashley has acquired Sofa.com for a “nominal sum”, adding yet another business to his growing portfolio of high street retailers.

According to a report by Sky News, the acquisition will enable Ashley to add further Sofa.com concessions to the House of Fraser (HoF) chain he bought from administrators last year.

Both Ashley and sofas, carpets and furniture retailer ScS had expressed interest in acquiring Sofa.com. However, ScS said in an update on 1 February: “The group confirms that ScS Group is no longer in discussions regarding a potential acquisition of the business and assets of Sofa.com Limited.”

Ashley is also seeking deals to acquire HMV and Patisserie Valerie from administration. According to to new figures from Colliers International/Radius Data Exchange Ashley’s retail estate has grown by a third over the past year up from 22m sq ft to 30m sq ft.

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