Mike Ashley seeks to join Mulberry’s board as he tires of firm’s poor sales May 23, 2023 Sportswear tycoon Mike Ashley is reportedly set to muscle his way onto the board of luxury brand Mulberry as he grows increasing tired of the company’s poor sales performance. Ashley’s Frasers Group owns a 37 per cent stake in Mulberry, but the brand is ultimately controlled by Malaysian billionaire Ong Beng Seng and his wife [...]
Frasers: The boy done good! Ashley son-in-law guides firm to £5bn revenue July 27, 2023 Frasers Group revenues surged 15.8 per cent in the last financial year, totalling £5.56bn, as the retail powerhouse shows signs of performing well under the reign of new chief Michael Murray. Murray, who is the son in law of founder and business tycoon Mike Ashley, took over the business in 2022 after Ashley announced plans [...]
Russian-born billionaire and former F1 boss tops the richest tax list January 26, 2024 A Moscow-born billionaire and former F1 boss Bernie Ecclestone topped this year’s Times tax list, but not for the same reasons.
Mike Ashley’s Frasers Group eyes last minute rescue of Debenhams December 6, 2020 Billionaire retail tycoon Mike Ashley is reportedly trying to rescue Debenhams in a bid that could save 12,000 jobs. Ashley, who founded retail giant Frasers Group and was previously a major Debenhams shareholder, is reportedly trying to thrash out a deal that would see the retailer valued at more than £200m. The retailer went into [...]
Mike Ashley’s Frasers Group increases stake in luxury brand Mulberry November 19, 2020 Mike Ashley’s Frasers Group has increased its stake in Mulberry, sending the luxury handbag firm’s share price up more than eight per cent this morning. Frasers Group, which was formerly known as Sports Direct, has upped its stake in the designer brand to 36.82 per cent. The group, which also owns House of Fraser, Jack [...]
Matalan secures deadline extension for £350m debt payment October 17, 2022 Matalan has announced that its debt payments have been kicked back several months, buying the high street retailer more time to find cash. The discount clothes retailer said that a January deadline to refinance £350m of debt has been pushed back to July. Matalan described the update as “an important milestone” in its recapitalisation plan [...]
Elliott holds talks with Hargreaves over backing Matalan bid October 11, 2022 John Hargreaves' bid to wrest back control of Matalan could be given a valuable boost from the owner of Westminster.
Debenhams closure: Timeline of department store chain’s collapse December 1, 2020 Department street chain Debenhams announced this morning that it is preparing to close down after failing to attract a buyer, but the former high street giant’s problems stretch back over several years. Earlier this year the struggling retailer entered administration for the second time in 12 months, even before Covid-19 forced it to close its [...]
Frasers Group approaches JD Sports to buy Footasylum after CMA setback December 26, 2021 Mike Ashley, chairman of Frasers Group (Fraser), has offered to buy retail chain Footasylum from JD Sports (JD) executive chairman Peter Cowgill, according to The Sunday Times.
Lockdown extension in December would be ‘disastrous’ for retail sector, experts warn November 2, 2020 An extension of lockdown restrictions into December would be “disastrous” for the struggling retail sector, which will have already missed out on sales at the beginning of the crucial Christmas trading period. In a note to clients this morning, broker Peel Hunt said listed retailers had balance sheets strong enough to handle the November lockdown, [...]