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.
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Aug- 2021 -4 AugustPeople Moves
Mike Ashley set to step down as CEO of Frasers Group
Mike Ashley is reportedly planning to step down from his role as the CEO of Frasers Group and hand over control to his prospective son-in-law, according to The Telegraph. The Sports Direct boss is reportedly expected to assume the role of deputy chairman following the move, which could be confirmed…
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3 AugustDepartment Stores
Mike Ashley’s Frasers Group pens letter urging MPs for Debenhams probe
Mike Ashley’s Frasers Group has reportedly sent a letter to parliament urging them to launch an independent investigation into Debenhams’ collapse in 2019. According to Sky News, which reports it has seen the letter from Frasers CFO Chris Wootton, the letter claims that the Debenhams board was culpable for its…
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Jul- 2021 -21 JulyNews
Mike Ashley launches high court action over Debenhams collapse
Sports Direct owner Mike Ashley has reportedly gone to the High Court to set aside a settlement agreed with Debenhams and its administrators earlier this year. According to the Times, the retail tycoon intends to “kickstart investigations” into the department store’s directors and advisors following its collapse. If accepted, the…
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5 JulyDepartment Stores
House of Fraser staff to face switch to zero-hour contracts
Frasers Group has reportedly entered its House of Fraser staff into consultation regarding a switch to zero-hour contracts. According to Retail Week, the Mike Ashley-owned department store has commenced the process that will impact all store staff below management level. One source told the publication that the consultation began on…
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May- 2021 -27 MayClothing & Shoes
Frasers Group ends Hugo Boss rumours
Mike Ashley’s Frasers Group has denied rumours that it plans to launch a takeover bid for luxury fashion house Hugo Boss. The claim was first reported in the Telegraph on Friday 21 May, resulting in a 7% jump in shares at the premium fashion brand. However, in a London Stock…
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24 MayM&A
Frasers Group eyes Hugo Boss takeover
Frasers Group is reportedly considering a potential takeover of Hugo Boss, according to a recent report from The Daily Telegraph. Shares in the premium fashion brand have increased by nearly 7% in Frankfurt, valuing it at €3.2bn (£2.7bn) after the news that Mike Ashley’s retail empire may potentially takeover the…
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4 MayHigh Street
Frasers Group to launch £60m share buyback scheme
Mike Ashley’s Frasers Group has announced that it is set to commence a £60m shares buyback scheme commencing today (4 May 2021). Lasting until the end of the group’s financial year on 25 April 2021, the programme will see up to 10 million ordinary shares purchased at an aggregate price…
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Apr- 2021 -9 AprilHigh Street
Frasers warns of £200m lockdown hit
Mike Ashley’s Frasers Group has warned that it expects to take a hit in excess of £200m due to the impact of Covid-19 – double what the retailer predicted in February. The group, which owns Sports Direct and House of Frasers, has said that further Covid-19 restrictions are “almost certain”. …
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7 AprilM&A
Frasers Group calls for Peacocks sale inquiry
Frasers Group has reportedly called for an investigation to be launched into the sale of fashion chain Peacocks to an international consortium backed by chief operating officer, Steve Simpson. According to the Guardian, Mike Ashley, owner of Sports Direct and House of Fraser, was beaten in his Peacocks takeover bid…
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Mar- 2021 -12 MarchFeatures
A look at what an online sales tax means for businesses
In last year’s Business Rates Review: Call for Evidence, Jesse Norman MP, financial secretary to the Treasury, said the government would explore the potential options of “alternative” property and online taxes which could act as “possible replacements” for rates to tackle the increases in businesses online presence. The proposition would…
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