Mike Ashley adds MegaValue.com high street store to Sports Direct business

Joe Hall
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Mike Ashley (left) is believed to be expanding his Sports Direct business (Source: Getty)

Mike Ashley rarely sits still. With his ownership of the beleaguered Newcastle United dominating the headlines, the Sports Direct owner has quietly added a new high street business to his interests.

Read more: Rangers and Sports Direct boss Mike Ashley has too much power, says IoD

The subtly-titled MegaValue.com is a new discount store that recently appeared on a Kidderminster High Street on the site of an old department store.

The shop appears to be Ashley's expansion into the general merchandising and discounting sector as his cut-price sports retailer deals with slowing sales growth.

Megavalue.com was registered as a private limited company with Companies House last month, with Sports Direct chief executive David Forsey listed as company director and Sports Direct as the only shareholder. A second company, Megavaluedirect.com, has also been registered under the same conditions.

A screengrab from MegaValue.com (Source: Getty)

An unresponsive web page has been set up on the MegaValue.com domain, directing users to the store's Kidderminster base.

MegaValue.com looks likely to be a rival to general goods stores such as B&M and Wilko, and was dubbed "Son of Woolworths" in its early stages of development according to the Mail On Sunday.

Update: Sports Direct confirmed to City A.M. that the site in Kidderminster is a trial store, and further updates will be provided at the time of their preliminary results on 16 July.

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