Retail mogul Mike Ashley makes fresh bid for Debenhams October 18, 2020 Sport Direct tycoon Mike Ashley has reportedly made a fresh bid for Debenhams, reviving his long-standing pursuit of the department store chain. The retail billionaire this month submitted an improved offer as the auction for Debenhams nears its final stages, the Sunday Times reported. Debenhams, which collapsed into administration in April, has hired Lazard to [...]
Debenhams sets bidding deadline for potential buyers September 1, 2020 Struggling department store chain Debenhams has set a deadline for potential buyers to make offers for the company today as it seeks to avoid further closures and job losses. Investment bank Lazard, which is overseeing the sales process, has set a deadline of 5pm this afternoon, Sky News reported. Debenhams recently entered administration for the [...]
Collapsed Debenhams claimed £40.5m of taxpayer cash via furlough scheme December 3, 2020 Collapsed Debenhams claimed £40.5m of taxpayer cash via furlough scheme
Debenhams draws up contingency plans for liquidation August 16, 2020 Debenhams’ owners have begun drawing up plans for the liquidation of the department store, which could threaten thousands of jobs. The retailer is understood to have appointed Hilco Capital, which specialises in restructuring and refinancing firms, as a contingency plan. Hilco’s appointment was first reported by Sky News and was described over the weekend as [...]
Retail: 40 per cent of high street shops will have to be repurposed or they will ‘wither on the vine’, local leaders warn March 23, 2023 Some 40 per cent of high street shops will have to be repurposed or they will “wither on the vine” as the demand for physical retail dwindles, local leaders have warned. According to a survey by trade body Revo and consultancy Lambert Smith Hampton, as first reported by The Guardian, the need to reinvent retail [...]
Debenhams launches rates battle to decide future of company August 25, 2020 Beleaguered department store Debenhams has launched a fight against business rates hikes, warning it could be forced to shutter more stores and lay off thousands of workers if it is unsuccessful. The retailer has appealed to a tribunal about a 12 per cent jump in business rates to £1.1m at its Swansea store. Debenhams, which [...]
Retail tycoon Mike Ashley ‘furious’ after being ‘frozen out’ of Debenhams sale November 1, 2020 Retail mogul Mike Ashley is reportedly “furious” about being “frozen out” of an auction for collapsed department store Debenhams. The Sunday Times reported that lawyers for the tycoon have spent the last week complaining to Lazards and law firm Freshfields that Ashley’s Frasers Group had been given “woefully inadequate” information on the sale. Last week [...]
Saga picks former Co-op exec as new chief in bid to turn fortunes around November 28, 2023 Over-50s specialist insurer Saga has announced that chief financial officer Mike Hazell will replace Euan Sutherland as chief executive effective immediately. Hazell was CFO at The Co-op Group before joining Saga in October and had previously been with Debenhams for almost 12 years. Mark Watkins will replace Hazell as CFO So-called claims inflation of around [...]
Mike Ashley’s firm should pay its debts to pensioners and taxpayers before it tries to buy Debenhams December 8, 2020 We are living in extraordinary times. At all levels of society people are being asked to make sacrifices — and this includes businesses. This week, news broke that Mike Ashley’s Frasers Group is making a last-minute bid to purchase Debenhams. His company — of Sports Direct fame — has been thriving throughout the crisis, and [...]
Mike Ashley’s Frasers Group raises Boohoo stake to 15 per cent October 16, 2023 Mike Ashley backed Frasers Group has once again raised its stake in online fashion brand Boohoo. The Sports Direct owner upped its share in the group from 13.4 per cent to 15.1 per cent. The fashion powerhouse, which also owns Jack Wills, has been rapidly increasing its stake in the popular clothing site. At the [...]