Fast fashion: Mike Ashley’s retail behemoth Frasers Group eyes I Saw It First July 17, 2022 Mike Ashley’s retail empire may make a swoop for I Saw It First, an online fast-fashion brand owned by Boohoo founder Jalal Kamani. According to a report in The Telegraph, Frasers Group could add I Saw It First to its list of retail takeovers within a matter of weeks. The Telegraph’s sources told the newspaper [...]
Mike Ashley’s Frasers Group ups stake in German fashion brand Hugo Boss, again June 22, 2022 Mike Ashley’s Frasers Group confirmed this morning it has increased its stake in luxury German fashion brand Hugo Boss once again. Frasers said it now has 3.4 million shares – a 4.9 per cent stake – in Hugo Boss and holds buy options over another 26 per cent shareholding. The group said its investment in [...]
London fund set to lose millions following Mike Ashley’s £20m Misguided acquisition June 7, 2022 The London private equity firm that injected £50m into fast fashion retailer Misguided, in the months running up to its insolvency, is set to lose tens of millions on its investment. Alteri Investors is set to lose £20m- £30m after Mike Ashley’s Frasers Group bought the Manchester based retailer for £20m last week, according to [...]
New Sports Direct boss asserts Mike Ashley is ‘not pulling the strings’ amid of price increase warning May 5, 2022 Sports Direct’s new chief has asserted that the retailer’s former boss and his future father-in-law is “not pulling the strings.” In his first interview since stepping into Mike Ashley’s shoes as chief executive of Frasers Group, Michael Murray warned prices would likely go up. The high street titan was facing headwinds “going through the roof,” [...]
Studio Retail Group preparing to call in administrators in blow for largest shareholder Mike Ashley’s Fraser Group February 14, 2022 Online value retailer Studio Retail Group, whose largest shareholder is Mike Ashley’s Frasers Group, is posed to call in administrators. The Accrington-based firm said it had not been able to reach agreement with its UK lenders for additional funding it needed. Studio Retail had requested a short-term loan of £25m to fund surplus stockholding which [...]
Mike Ashley’s Sports Direct and House of Fraser empire kicks off £70m share buyback plan December 13, 2021 Retail baron Miek Ashley has announced the start of a £70m share buyback plan for Frasers in an attempt to boost the company’s share price. Bosses at the group, which includes department store House of Fraser and retail chains Sports Direct and Game, said the plan is to reduce the number of shares in circulation. [...]
Mike Ashley to hand reins of Sports Direct retail empire to future son-in-law August 5, 2021 The board of Frasers Group confirmed suspicions that CEO Mike Ashley will be replaced next year by his daughter’s fiancé, Michael Murray, in the group’s financial update. 31-year-old Murray is currently the firm’s “head of elevation” and has been in charge of modernise the owner of Sports Direct and House of Fraser, as well as [...]
Mike Ashley ‘set to step down’ as chief exec of Frasers Group August 3, 2021 Mike Ashley is reportedly set to hand control of his retail empire to his prospective son-in-laww after nearly 40 years in charge of Sports Direct. The Telegraph reported that the Frasers Group chief executive could confirm the decision alongside the firm’s results on Thursday. It is expected that he will become the deputy chairman of [...]
Mike Ashley’s Frasers Group launches £60m buying spree despite recent Covid setbacks May 4, 2021 Mike Ashley’s Frasers Group has announced plans to spend £60m between now and and July despite warning less than a month ago that it would suffer a £200m hit from the Covid-19 pandemic. The company, which includes House of Fraser, Sports Direct, Evans Cycles and Jack Wills, among others, will start the buying spree later [...]
Sports Direct founder Mike Ashley ordered to replace signage on 180-year-old department store in row with council April 22, 2021 Frasers’ boss Mike Ashley has been ordered to replace the letters of a 180-year-old landmark department store in Edinburgh. Ashley, the founder of Sports Direct, has been issued with a formal notice to Sports Direct International, now rebranded as Frasers Group, over work “executed to the listed building… having regard to the effect of the [...]