Sports Direct
This coverage focuses on Sports Direct’s activities and position within the UK retail market, detailing store developments, acquisitions, financial results, leadership changes, and strategic initiatives. Reporting examines how the company shapes its sportswear and leisure offering, adapts to market trends, and competes in a dynamic retail environment — providing retail managers and executives with insights into its operations and growth strategies.
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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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15 AprilDepartment Stores
Debenhams CEO expected to step down
Debenhams CEO Sergio Bucher is expected to step down in the next few days, after lenders took control of the embattled department store’s chain last week. A source close to Bucher told the BBC: “Having stayed on and got the refinancing in place, Sergio thinks now would be the right…
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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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9 AprilDepartment Stores
Debenhams enters pre-pack administration
Debenhams has entered pre-pack administration and gone into the control of its lenders following the department store’s rejection of Sports Direct’s offer to underwrite £150m equity issuance. The pre-pack administration will see all of the company’s shareholders – including Sports Direct which has a 30% stake – wiped out and…
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8 AprilDepartment Stores
Sports Direct makes Debenhams £150m offer
Sports Direct has made an offer to Debenhams to underwrite £150m equity issuance in Mike Ashley’s latest attempt to take control of the embattled department store. The proposal is subject to the conditions that Ashley is appointed CEO of Sports Direct and Debenhams’ lenders agree to write-off (in aggregate) £148m…
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2 AprilHigh Street
Schroders backs Findel’s rejection of Sports Direct takeover
Fund manager Schroders has backed Findel’s rejection of Sport’s Directs £140m takeover bid, saying it “significantly undervalues” the future prospects of the company. Schroders said it remains “supportive of Findel” and its management team and the “operational and financial progress” that the home shopping company has made under the leadership…
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1 AprilDepartment Stores
Debenhams shareholders back Mike Ashley becoming CEO
Sports Direct has said a number of other shareholders in embattled department store Debenhams have expressed support in Mike Ashley becoming CEO of the company. Ashley’s retail company Sports Direct has an almost 30% stake in Debenhams and as the department store has been seeking funding to help with its…
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Mar- 2019 -29 MarchDepartment Stores
Debenhams advisors should be ‘put in prison’, says Mike Ashley
Mike Ashley has hit out at Debenhams after the department store agreed on a refinancing scheme which could see its shareholders’ stakes wiped out. Debenhams released a statement yesterday (28 March) saying its bondholders were expected to back a £200m restructuring loan. In response, Ashley said “if there were any…
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28 MarchClothing & Shoes
Debenhams bondholders to back £200m restructuring loan
Debenhams bondholders are expected to back a £200m restructuring loan, with a statement today claiming a majority had “provided consent to the amendments sought to the existing notes”. The deadline for bondholders to accept the loan is 5pm tonight (28 March). News of a loan will come as a blow…
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27 MarchHigh Street
Sports Direct considers £61.4m bid for Debenhams
Sports Direct, owned by Mike Ashley, is considering a £61.4m bid to take control over embattled department store chain Debenhams, despite the retailer rejecting its previous proposals. The sportswear retailer said the possible offer is “pre-conditional” upon Debenhams immediately appointing Ashley as its CEO and terminating the noteholder consent solicitation…
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