Mike Ashley loses vote to join Boohoo board December 20, 2024 Mike Ashley has lost his bid to become a board member of fast-fashion giant Boohoo, which his Frasers Group is the largest shareholder. More than 63 per cent of votes were cast against the appointment of the billionaire at a general meeting in Manchester. Almost the same number of votes were also cast against Michael [...]
Boohoo’s money troubles increase as bidder for London office walks away December 15, 2024 Boohoo has suffered another financial setback after an Israeli bidder pulled out of talks to buy its London office. The company was set to sell its Soho office for £60m to cover a looming debt repayment of £47m due in August 2025. The fast-fashion company bought the property for £72m in 2021. The news comes [...]
Boohoo floats board seat to Frasers – as long as it’s not for Ashley or Lennon December 13, 2024 Boohoo's board has floated an olive branch to Frasers today with the offer of a board seat, but only if Mike Ashley or Mike Lennon are not the candidates put forward.
Frasers hits out at Boohoo’s Kamani over Mike Ashley appointment December 12, 2024 Glass Lewis's opposition comes after a similar recommendation made by Institutional Shareholder Services (ISS) last week.
Boohoo hits out at Ashley’s Frasers Group again as public spat deepens December 10, 2024 Boohoo has accused Mike Ashley’s Frasers Group of waging a campaign to “destabilise” and “disrupt” the company today in the latest salvo of a protracted spat between the two retail giants. In a letter to shareholders, Boohoo urged them to vote against Ashley’s efforts to install himself on Boohoo’s board and said Frasers is “acting [...]
Boohoo shares rebound from historic low amid battle over its future December 9, 2024 Shares in fast fashion group Boohoo have recovered from a historic low as the battle over its future took another twist ahead of a crunch vote before Christmas. The Manchester-headquartered group, whose brands include Debenhams and Prettylittlething, suffered a slump in its share price in July from 35p to 27p. However, shares in Boohoo have [...]
Mike Ashley pledges ‘fresh ideas’ in bid for Boohoo board seat December 8, 2024 Frasers Group chief Mike Ashley has renewed his criticism of Boohoo’s management as he continues his bid for a seat on the struggling fashion retailer’s board. In an open letter, Ashley vowed to turn around the London-listed company, arguing that it was underperforming with “no clear strategy to halt the decline”. “As a board member, [...]
Boohoo: Prettylittlething crashes into the red as Mike Ashley battle continues November 22, 2024 Fresh light has been shone on Boohoo’s financial struggles amid its ongoing battle with billionaire Mike Ashley. The financial performance of some of the Manchester-headquartered group’s most well-known brands have been revealed including Prettylittlething crashing into the red and sales being slashed at Nastygal. While Boohoo reports its group results to the London Stock Exchange, [...]
Boohoo co-founder replaced amid battle with Mike Ashley’s Frasers Group November 21, 2024 The public spat between Mike Ashley’s Frasers Group and Boohoo has taken another turn as the struggling fast-fashion retailer announced its co-founder Mahmud Kamani was replaced as chairman. Non-executive director Tim Morris has taken on the role with immediate effect with Kamani becoming vice chairman. In a statement, the board of the Manchester-headquartered group said [...]
Boohoo completes fundraising as it struggles to return to growth November 18, 2024 Boohoo has raised just under £40m in a bid to turn itself around amid its public fight with the boardroom demands of an activist shareholder, Mike Ashley’s Frasers. This morning, the company said it had conditionally raised total proceeds of approximately £39.3m. This includes £400,000 from a retail offer and £38.9m from an investor subscription. [...]