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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Dec- 2024 -23 DecemberNews-In-Brief
Today’s news in brief-23/12/24
Fashion retailer Quiz plans to delist from the Alternative Investment Market (AIM) and re-register as a private company following weak sales and financial strain. A shareholder vote, requiring a 75% majority, is scheduled for 8 January 2025, with the transition set for 23 January if approved. The company cited regulatory…
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23 DecemberClothing & Shoes
Boohoo offloads head office for £49.5m
Boohoo has completed the sale of its London office for a total of £49.5m. Located on Great Pulteney Street, Soho, the site was sold to Global Holdings UK Limited, an independent property fund. Boohoo said the move would help to “further strengthen the company’s balance sheet”. Part of the proceeds will…
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20 DecemberNews-In-Brief
Today’s news in brief-20/12/24
Retail sales in the UK edged up by 0.2% in November, falling short of analysts’ 0.5% forecast. The slight increase followed a 0.7% decline in October, with food sales rising for the first time in three months, up 0.5%, while non-food revenues rose by 0.2%. However, clothing sales fell sharply…
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20 DecemberClothing & Shoes
Boohoo bans journalists from boardroom battle with Mike Ashley
Boohoo has reportedly blocked journalists from attending its boardroom showdown with Mike Ashley, following an ongoing battle over the fast-fashion company’s governance.According to The Telegraph, Boohoo told journalists that they will not be able to attend its annual general meeting today (20 December), where shareholders will vote on Frasers’ demands…
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17 DecemberNews-In-Brief
Today’s news in brief-17/12/24
Shein’s potential London IPO may challenge regulatory norms as the company reportedly seeks a waiver from the UK’s 10% public float requirement. If successful, it would mark a first for London’s stock market. Shein filed confidentially with the FCA in June but faces delays due to regulatory scrutiny, including concerns…
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17 DecemberNews
Boohoo head office sale halted after investor walks away
Boohoo’s head office sale has been halted due to an Israeli investor walking away from negotiations, according to The Telegraph. The prospective buyer, who was in talks to acquire the retailer’s Soho office for £60m, has pulled out due to concerns raised by a survey. The retailer purchased its six-story…
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9 DecemberClothing & Shoes
Boohoo calls on shareholders to reject Mike Ashley’s board bid
Boohoo has urged its shareholders to vote against Mike Ashley’s board appointments ahead of its AGM on 20 December. In an update posted this morning, Boohoo revealed that independent proxy adviser Institutional Shareholder Services (ISS) has recommended shareholders vote against Fraser’s bid for board representation which would see Ashley as…
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3 DecemberNews-In-Brief
Today’s news in brief-3/12/24
Boohoo has repaid £50m of its £97m term loan following a £39.3m oversubscribed fundraising effort. The move aligns with its turnaround strategy after half-year losses tripled to £27.4m and revenue dropped 15% to £619.8m. CEO Dan Finley called Boohoo “significantly undervalued” as major shareholders, including the Kamani family, boosted their…
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3 DecemberSport & Leisure
Mike Ashley ‘met by stone wall’ in HMRC data dispute
Sports Direct boss Mike Ashley has launched legal action against HMRC, saying that the government body made “extensive” breaches of data protection, The Times has reported. The High Court has heard that Ashley was “met with a complete stone wall”, having requested his personal data after HMRC made him aware…
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Nov- 2024 -21 NovemberNews-In-Brief
Today’s news in brief-21/11/24
Boohoo has appointed Tim Morris as its new independent Chair, effective immediately, marking another milestone in the company’s ongoing restructuring. Mahmud Kamani, the founder, transitions to the role of executive vice chair while waiving his salary for a year. This change aligns with Boohoo’s broader strategy to improve governance and…
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