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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Oct- 2018 -8 OctoberClothing & Shoes
French Connection considering a potential sale
French Connection has confirmed it is considering the potential sale of the business as it is currently “reviewing all strategic options”. In a statement to the London Stock Exchange on Monday (8 October) the fashion retailer set out its position following reports over the weekend, and also added that there…
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4 OctoberAdvice
What is an administration pre-pack, and how might it affect retail suppliers?
2018 has been a difficult year for retailers: East, Maplin, New Look, Carpetright, Carphone Warehouse, Poundworld, Mothercare, Toys ‘R’ Us, House of Fraser, and Homebase have all stumbled to varying degrees. For House of Fraser, Mike Ashley (via his SportsDirect group) arrived as a ‘white knight’, using an administration pre-pack…
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2 OctoberDepartment Stores
Sports Direct ousts entire House of Fraser management team
Sports Direct has announced it has dismissed the entire management and executive team of House of Fraser following the department store’s collapse and subsequent takeover by Mike Ashley. In a short statement released to the London Stock Exchange, the company said this was due to “calls for an investigation” regarding…
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Sep- 2018 -25 SeptemberDepartment Stores
Three further House of Fraser stores to shutter due to ‘greedy landlords’
House of Fraser has announced it is to close three further stores in Hull, Edinburgh and Swindon, with new owner Mike Ashley saying he was unable to agree terms with “greedy landlords”. The retailer is currently in consultation with staff at the affected stores, and said its Bath store was…
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17 SeptemberDepartment Stores
Sports Direct denies Mike Ashley will block Debenhams’ Magasin du Nord sale
Sports Direct has denied the claims which emerged over the weekend that Mike Ashley will attempt to block a sale of Debenhams’ Magasin du Nord business. Reports had suggested the Sports Direct boss could block Debenhams attempt to raise cash through the £250m deal, in order to buy the store…
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13 SeptemberDepartment Stores
Sports Direct rules out Debenhams takeover
Sports Direct has quashed speculation that it could increase its 30% stake in embattled department store Debenhams with a buyout deal. Senior non-executive director Simon Bentley caused confusion when he told reporters that a House of Fraser and Debenhams merger had “been discussed” by the board during its AGM on…
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10 SeptemberDepartment Stores
CVA and closure rumours loom as Debenhams appoints KPMG
Debenhams has reportedly appointed audit advisors KPMG to explore restructuring plans, prompting rumours of stores closures and a CVA. The Sunday Telegraph reported that the advisory firm had been assigned to draw up a turnaround plan which could result in a number of job cuts. The department store chain recently…
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5 SeptemberClothing & Shoes
Quiz to take £400,000 hit from House of Fraser collapse
House of Fraser is expected to receive a £400,000 cash injection from fashion retailer Quiz. Ahead of its AGM the retailer, which has concessions in the department store, said it would provide the money in relation to “outstanding debtor balances and other potential costs”. Quiz will provide a trading update…
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Aug- 2018 -21 AugustDepartment Stores
House of Fraser Oxford Street store saved but 627 warehouse jobs still at risk
House of Fraser’s flagship Oxford Street store has been saved from closure by its new owners. The store was due to close in January under the House of Fraser CVA that was announced in June 2018 before the company entered administration. However Mike Ashley’s company Sports Direct agreed to acquire…
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17 AugustDepartment Stores
Debenhams to axe 90 jobs
Debenhams has announced it is to cut 90 jobs as part of a restructuring plan to focus the business on key areas. The department store is also currently in redundancy talks with 200 head office workers as part of the last stage of its cost cutting plan. In a statement…
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