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Mike Ashley is set to advise model train company Hornby as a consultant after building a stake in the firm.
The company confirmed to investors that Ashley would be available to advise CEO Olly Raeburn and the wider business.
However, Hornby confirmed that there would be no payment between the company and Ashley’s business for his services.
Frasers Group acquired more than 11 million shares in the company back in February taking its stake up to 8.9%.
That makes Frasers the third largest shareholder in the business behind Phoenix Asset Management and Artemis Investment Management.
The hope is that Ashley will be able to turn the company’s fortunes around after it posted a £5.1m pre-tax loss in the half-year to September 2023.
