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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Jul- 2019 -15 JulyHigh Street
Sports Direct delays FY results amid House of Fraser ‘complexities’
Shares in Mike Ashley’s Sports Direct have fallen by 11% in early trading this morning after it delayed its full-year results citing “complexities” around its House of Fraser acquisition. The results, which were due on Thursday, have been delayed due to “the current uncertainty as to the future trading performance…
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15 JulyHigh Street
Sports Direct increases stake in Game to 84%
Mike Ashley’s Sports Direct has moved a step closer to purchasing video game retailer Game, after it increased its stake in the company to 84%. The retail group has also put forward an application for Game’s shares to be suspended from trading on the London Stock Exchange (LSE), and for…
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3 JulyPeople Moves
Sports Direct retail chief leaves after 28 years
Sports Direct’s head of retail operations, Karen Byers, is stepping down from her position with immediate effect after 28 years, the Press Association has reported. Byers joined Sports Direct soon after it was founded by Mike Ashley, and has been described by him as the person who “runs Sports Direct”.…
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Jun- 2019 -28 JuneHigh Street
French Connection delays company sale
Fashion retailer French Connection is set to delay completion of its sale to September, to coincide with the company’s interim earnings report. Talks will still be ongoing with interested parties in the meantime. The statement from the company released today (28 June) said: “Discussions have progressed since then and are…
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12 JuneDepartment Stores
Sports Direct challenges Debenhams CVA
Department store Debenhams has confirmed Sports Direct is among the parties which have sent applications to challenge its CVA which was voted through by creditors on 9 May. Debenhams went under the control of its lenders when it entered a pre-pack administration in April. Debenhams Group Holdings Limited, its subsidiaries…
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5 JuneHigh Street
Mike Ashley makes £51.9m offer for Game after increasing stake
Mike Ashley’s Sports Direct has made a £51.9m offer for the gaming retailer Game Digital after it increasing its stake from 20% to 38.5%. Sports Direct acquired the shares from Marlborough UK Micro-Cap Growth Fund passing the 30% threshold requiring Ashley to make an offer for the shares he does…
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May- 2019 -13 MayDepartment Stores
Mike Ashley plans to invest millions to revamp House of Fraser
Mike Ashely has revealed he plans to pledge hundreds of millions of pounds into relaunching House of Fraser in return for a three-year rent holiday. According to The Sunday Times, Ashley plans to open 31 upmarket stores rebranded to “Frasers” over the next five years – with five of these…
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3 MayHigh Street
Sports Direct facing probe from financial regulators
Sports Direct is facing scrutiny from two financial regulators over its accounts and information relating to a possible bid for Debenhams. According to The Times, the Financial Conduct Authority (FCA) is looking into the retailer regarding the disclosure of information in relation to its bid for the department store. Questions…
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Apr- 2019 -15 AprilHigh Street
Mike Ashley warned over plans for retail ‘oligopoly’
Former Marks and Spencer boss Lord Stuart Rose has warned Mike Ashley over plans for a retail ‘oligopoly’, following his attempted acquisition of embattled department store chain Debenhams. According to a report by Aol.com, Rose said he would “think twice about building an empire of high street chains”, and he…
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10 AprilDepartment Stores
Mike Ashley promises to ‘save’ Debenhams
Mike Ashley has made a promise to “save as many Debenhams stores and jobs” as he can similarly to House of Fraser, following the department store going under the control of its lenders. Sports Direct released a statement after Debenhams was placed into administration saying it was a “national scandal”…
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