Mike Ashley’s empire tightens grip on Boohoo as crunch vote nears November 15, 2024 Mike Ashley’s Frasers Group has continued to up its stake in Boohoo as a war of words over the future of the fast-fashion giant rumbles on. The owner of the likes of Sports Direct and House of Fraser now has a 28 per cent stake in the Manchester-headquartered group, which itself features brands such as [...]
Boohoo urges shareholders to reject Mike Ashley’s demands November 14, 2024 Boohoo has urged its shareholders to reject Mike Ashley’s demand to be placed in charge of the struggling fast fashion group, saying that that Ashley is “not suitable” and subject to conflicts of interest due to his role at Frasers. Boohoo and Frasers have been engaged in a public disagreement over how to take the [...]
Mike Ashley’s Frasers Group warns Boohoo over break-up plans November 6, 2024 Mike Ashley’s Frasers Group has handed Boohoo a list of demands after its campaign to install the retail tycoon as the new CEO of the fast-fashion giant failed last week. The owner of Sports Direct and House of Fraser had sought to get Mike Ashley installed as the new chief executive of Manchester-headquartered Boohoo, in [...]
Boohoo hits back at Frasers after bid to install Mike Ashley as chief October 25, 2024 Boohoo has hit back at Mike Ashley’s Frasers Group after the retailer sent out an open letter yesterday vowing to install him as its new chief. The fast-fashion giant said it was making the announcement to issue “clarification” on matters raised by Frasers yesterday, including accusations of “long-term mismanagement” which has led to “value destruction“. [...]
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 [...]
Mulberry rejects ‘untenable’ second offer from Mike Ashley’s Frasers October 22, 2024 The board of Mulberry has unanimously rejected the second bid from retail giant Frasers as “untenable”. Frasers launched its first bid on 1 October for £83m, which was subsequently rejected as too low by Mulberry, and its second of £111m on 11 October. Mulberry reiterated its statement from the first time it rejected Frasers’ bid: [...]
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 [...]
Mulberry to ponder bid from Mike Ashley’s Frasers despite lack of interest from majority shareholder October 14, 2024 British retailer Mulberry has announced that it is evaluating Frasers’ second bid for the firm, despite a lack of interest from its majority shareholder, Challice. In light of Frasers’ £111m bid, the luxury brand is “working with advisers to consider the company’s position,” it said, despite Challice’s public snub of the deal. Challice, which is [...]