Frasers wants to make Mike Ashley chief of Boohoo after ‘mismanagement and value destruction’ October 24, 2024 Frasers Group wants to appoint its boss Mike Ashley as the chief executive of fast fashion brand Boohoo, citing “long-term mismanagement” which has led to “value destruction“. The Mike Ashley-owned company wrote to the board of Boohoo this morning, saying the group was suffering from a “leadership crisis”. In a message to markets this morning, [...]
Mike Ashley’s Frasers abandons Mulberry bid amid governance concerns October 23, 2024 Frasers Group, led by Mike Ashley, has confirmed it will not pursue a bid for Mulberry, after the iconic British luxury brand rejected its two previous cash offers earlier this month. The first bid, launched on 1 October at £83m, was dismissed by Mulberry as undervaluing the brand. A subsequent offer on 10 October at [...]
Mike Ashley’s Frasers Group backs N Brown takeover amid Mulberry pursuit October 18, 2024 Mike Ashley’s Frasers Group has backed the £191m proposed takeover of JD Williams-owner N Brown and announced the sale of its 20 per cent stake in the company for £38m. The retail empire, which includes Sports Direct and House of Fraser, holds nearly 95,000,000 shares in the Manchester business and will sell them for 40p [...]
Mike Ashley’s Frasers Group buys stake in Hudson Malta to boost global expansion October 15, 2024 Frasers Group, the empire controlled by Mike Ashley, is to expand into Malta and Africa after acquiring a “significant non-controlling” stake in a retail and distribution business. The London-listed group has invested in Hudson Malta, which has operations across 36 African countries. The owner of Sports Direct and House of Fraser said the deal reflects [...]
THG raises over £95m to aid Ingenuity demerger October 11, 2024 THG has raised more than £95m to help fund its planned demerger of its Ingenuity division. The Manchester-headquartered group, which includes City AM, confirmed on Thursday, 10 October, that it would press ahead with the demerger and revealed plans for a £75m fundraise led by boss Matthew Moulding. The London-listed firm said the demerger of [...]
Electrical supplier AO World snaps up Musicmagpie in near-£10m deal October 2, 2024 London-listed online retailer Musicmagpie will be snapped up by AO World as the electrical supplier looks to enhance its presence in consumer tech.
Mike Ashley’s Frasers Group tables £83m Mulberry takeover bid after capital raise snub September 30, 2024 Mike Ashley’s Frasers Group has tabled a £83m takeover of Mulberry and launched a tirade against its board after allegedly being shut out of discussions over a £10m fund raise. The retail giant, which owns a 37 per cent stake in Mulberry, offered £83m for the rest of the luxury fashion brand, valuing each share [...]
Mike Ashley’s Frasers Group sells shares in Asos following Topshop spike September 23, 2024 Frasers Group, the retail empire controlled by Mike Ashley, has lowered its stake in fast-fashion giant Asos. The Mansfield-headquartered group, which owns the likes of Sports Direct and House of Fraser, has decreased its holdings in Asos from 24.3 per cent to 21.1 per cent, according to a new filing with the London Stock Exchange. [...]
Hugo Boss: Profit slashed in ‘year of investment’ as sales dip from record high September 23, 2024 Profit at the UK arm of Hugo Boss was slashed by almost 50 per cent in a “year of investment” as its sales fell back from a record high, it has been revealed. The London-headquartered arm has reported a pre-tax profit of £16.8m for 2023, according to newly-filed accounts with Companies House, down from £30.4m [...]
Two of Mike Ashley’s brands face audit problems after payroll data goes missing September 22, 2024 Two fast-fashion brands at Mike Ashley’s Fraser Group, I Saw it First and Choice, have been affected by audit issues after their payment data could not be verified. Auditors Cooper Parry were unable to verify £7m of wages and salary payments at I Saw It First, according to This Is Money. The fast-fashion brand said [...]