Mike Ashley stays silent on Sports Direct as London Stock Exchange ends trading July 26, 2019 Sports Direct was meant to deliver a delayed set of results to the City today, but trading opened and closed and the only messages to come from Mike Ashley’s retailer were three further delays. The sportswear firm failed to update the market at 7am, before telling journalists to await an update at 12pm. Read more: [...]
Sports Direct expected to post 20 per cent profit drop July 14, 2019 Sports Direct is expected to report a 20 per cent drop in profit following an acquisition spree by billionaire owner Mike Ashley. Profit before tax could slip from £152.9m to £122.06m, according to data from S&P Global Market Intelligence. Read more: Top Sports Direct executive leaves Mike Ashley’s firm Analysts said revenue is expected to [...]
Debenhams urges Sports Direct to drop legal action over restructuring plan July 8, 2019 Debenhams has urged Mike Ashley’s Sports Direct to drop its lawsuit over the department store chain’s controversial insolvency plan after a key landlord withdrew its legal action. Sports Direct has filed a complaint against the company voluntary arrangement (CVA), which will allow Debenhams to close some 50 stores in a bid to stay afloat. Read [...]
Game management to sell shares to Ashley’s Sports Direct July 4, 2019 Directors at retailer Game have urged shareholders to accept a £52m takeover offer from Sports Direct, saying they intended to sell their own shares to Mike Ashley’s company. Read more: Game recommends Sports Direct takeover offer Game previously recommended the offer of 30p per share, which it said was “fair and reasonable”. The bid came [...]
Game recommends Sports Direct takeover offer June 21, 2019 Game has recommended shareholders approve a £51.9m takeover offer from Sports Direct. The company said Mike Ashley’s offer of 30p per share represents a “fair value” for the group. Read more: Mike Ashley’s Sports Direct lines up game takeover Game said the takeover would help it drive forward its esports initiative Belong Gaming Arenas. However, [...]
Goals ‘blocks’ Mike Ashley probe into £12m accounting crisis June 19, 2019 Goals Soccer Centre is accused of having “stonewalled” calls from its largest shareholder, Sports Direct, for an external probe into its £12m accounting crisis. Sports Direct billionaire Mike Ashley had urged Goals to green light an external investigation over fears about the scale of the accounting issues. Read more: Goals warns of weaker results amid [...]
Sports Direct HQ sold to Malaysian pension fund for £120m May 28, 2019 Mike Ashley’s Sports Direct has confirmed the freehold sale of its headquarters to a Malaysian pension fund. The sportswear retailer, which will continue to occupy the building on a 15-year lease, said this morning that it has sold its logistics centre to Kwasa Logix Sportivo for more than £120m in cash. Read more: Debenhams versus [...]
Sports Direct mulls legal challenge over Debenhams rescue plan May 19, 2019 Mike Ashley’s Sports Direct is looking to launch legal action against Debenhams over a controversial rescue deal secured earlier this month. The sportswear group is set to challenge two company voluntary arrangements (CVA) that could lead to the closure of 50 the chain’s 166 stores, with rent cuts expected on dozens more. Read more: Local [...]
It’s time to challenge Corbyn’s grotesque stereotype of business May 17, 2019 This week, business leader and rich list regular Julian Richer announced that he was handing over 60 per cent of shares in his company to the firm’s 522 employees. You’d be forgiven if you missed this news. Despite Richer Sounds’ 53 stores across the country and annual turnover of £157.5m, the founder is hardly a [...]
Britain has too many shops – no wonder more and more are being boarded up May 13, 2019 Boarded-up shop fronts are a common sight during recessions. In the early 1990s, they became an eyesore for town centres and the Conservative government alike, an everyday visual reminder of the economic slump that dragged the Tories lower and lower in the polls (albeit not low enough to deliver Neil Kinnock into Downing Street, once [...]