Mike Ashley
This coverage examines Mike Ashley’s activities and influence within the UK retail sector, including his leadership roles, acquisitions, strategic decisions, and impact on companies such as Sports Direct and Frasers Group. Reporting provides retail managers and executives with insights into his business approach and its implications for the wider industry.
-
Oct- 2022 -24 OctoberHigh Street
Lenders prepare to take control of Matalan as bid deadline hits
Lenders are reportedly preparing to take control of Matalan after the deadline for its rescue bids was hit last Friday (21 October). According to The Telegraph, the bondholders who are owed £350m by Matalan “effectively control the business” after it failed to refinance the debts earlier this year. The Telegraph…
Read More » -
12 OctoberClothing & Shoes
Frasers acquires minority stake in N Brown
Frasers Group has revealed it has acquired a 4.54% stake in fashion retailer N Brown, according to the latest holding documents filed by the company. The pureplay retailer’s brands include Jacamo, Simply Be and JD Williams and was founded in 1859 in Manchester – where its headquarters remain to this…
Read More » -
10 OctoberOnline & Digital
Studio Retail audits to be investigated by watchdog
The Financial Reporting Council (FRC) has revealed it has commenced an investigation in relation to the audit conducted by Mazars LLP of the financial statements of Studio Retail Group plc for the period ended 26 March 2021. The decision was made at a meeting of the FRC’s Conduct Committee on…
Read More » -
Sep- 2022 -27 SeptemberDepartment Stores
Frasers Group CEO to waive £1m salary
Frasers Group has confirmed that new CEO Michael Murray will waive his £1m base salary for the financial year ended 30 April 2023. It comes as the group is focusing on achieving an adjusted profit before tax of “at least” £500m in its next results. The group has also set…
Read More » -
12 SeptemberDepartment Stores
Mike Ashley to launch legal action over Debenhams collapse
Frasers Group’s Mike Ashley has reportedly escalated a legal battle with FRP Advisory over the collapse of Debenhams. According to the Mail on Sunday, the entrepreneur is taking legal action against the advisory firm after his £180m stake in the department store chain became worthless following its collapse in 2020. …
Read More » -
Aug- 2022 -18 AugustClothing & Shoes
Frasers makes cash offer for MySale
Mike Ashley’s Frasers Group has made a cash offer to acquire a 100% stake in Australian online marketplace MySale for 2p per share. The offer values the entire issued and to be issued share capital of MySale not currently held by Frasers Group at approximately £13.6m. On 29 June 2022,…
Read More » -
8 AugustDepartment Stores
Mike Ashley pursues legal claim against Morgan Stanley
Mike Ashley has reportedly launched a legal claim against Morgan Stanley, alleging the investment bank acted in “bad faith” over trades made by Ashley to build his stake in Hugo Boss. According to This is Money, court documents claim that Morgan Stanley “intended to harm” Frasers by indirectly forcing it…
Read More » -
May- 2022 -3 MayFeatures
Missguided: what went wrong?
As the face of online shopping for young women around the world, Missguided has faced its fair share of troubles despite its ever-present popularity within the fast fashion industry. Now the company is eyeing potential buyers, it puts into question the future of the business. Since its launch in March…
Read More » -
Apr- 2022 -25 AprilClothing & Shoes
JD Sports tipped as potential Missguided suitor
JD Sports has reportedly been tipped as a potential suitor to acquire online retailer Missguided after it appointed advisors to seek a buyer last week. According to This is Money, while muted to be at “a very early stage”, bosses at the sportswear retailer are said to be discussing a…
Read More » -
Feb- 2022 -24 FebruaryNews
Studio Retail appoints Teneo as administrators
Studio Retail, the online retailer, formally appointed Teneo as administrations last night to handle its collapse, according to The Times. Studio Retail’s request for a short-term £25m working capital loan has been rejected by its bank, HSBC, putting approximately 1,400 jobs at risk. The company, formerly known as Findel, had…
Read More »
