Mike Ashley calls for business rate relief to help high street on ‘life support’ February 14, 2020 Sports Direct billionaire Mike Ashley urged the Treasury to take action on business rates today, saying steep payments have helped put the British high street on “life support”. The retail tycoon has said that the current system is a “significant contributor to the dire straits the high street currently finds itself in.” Formerly called Sports [...]
South Africa v England Twenty20I series preview: Roy, Bairstow, Buttler and Malan set to battle it out for opening role February 11, 2020 A short-format series tacked onto the end of a long tour can sometimes carry little significance, but England’s run of three Twenty20 Internationals with South Africa, starting today, is not one of them. Having won the 50-over Cricket World Cup last year, England’s attention is now firmly fixed on repeating that feat at the 20-over [...]
JD Sports may have to sell off Footasylum, says CMA February 11, 2020 Shoppers could be worse off online and in store if JD Sports’ acquisition of Footasylum goes ahead, the UK’s competition watchdog found today. The Competition and Markets Authority (CMA) warned the merger could lead to fewer discounts and worse customer service, as well as less choice in its preliminary ruling. “We’re currently concerned that shoppers [...]
Premier League plots launch of Netflix-style streaming service February 9, 2020 The Premier League is plotting the launch of a Netflix-style streaming platform in a bid to boost revenue from TV rights in overseas markets. Richard Masters, the Premier League’s new chief executive, has confirmed that plans to set up a direct to consumer offering are already underway. The service, which would allow viewers in some [...]
Landlord row forces House of Fraser to close another store February 6, 2020 Sports Direct boss Mike Ashley has been forced to close another House of Fraser store after being served notice by the landlord. The branch in Dundrum, near Dublin, will close within the next three months after the property’s landlord agreed a deal with Brown Thomas and Primark. Ashley warned in December that it was likely [...]
Mike Ashley’s Sports Direct bags stake in designer brand Mulberry February 3, 2020 Sports Direct owner Mike Ashley has snapped up a stake in British luxury handbag company Mulberry, as the billionaire businessman seeks to rebrand his company as a premium retailer. Sports Direct, which has recently been rebranded as Frasers Group, has taken a 12.5 per cent stake in the designer brand. The deal signals a further [...]
Audit resignations jump as sector faces regulatory pressure February 3, 2020 The number of audit firms to resign from jobs jumped last year as the sector comes under increasing regulatory pressure. Resignations have risen 21 per cent to 229 in 2018/19, up from 190 the previous year, according to the latest research by Thomson Reuters. The spike in resignations comes as audit companies are increasingly in [...]
Exclusive: Politicians slam House of Fraser for continuing to sell Presidents Club clothing line January 30, 2020 Politicians, businesswomen and equality campaigners have called on House of Fraser to stop selling a clothing line appearing to reference the Presidents Club dinner where businessmen allegedly groped hostesses. The Presidents Club annual dinner was plunged into scandal in 2018 after details emerged of attendees’ behaviour and revealing dresses hostesses were told to wear. The [...]
Mike Ashley’s Sports Direct resolves chunk of €674m Belgian tax bill January 30, 2020 Mike Ashley’s Sports Direct has resolved a large chunk of a €674m (£570.2m) tax dispute with the Belgian authorities. The retailer – which recently rebranded as Frasers Group – said €491m of the disputed VAT had been accounted for and authorities in Belgium had withdrawn the claim. Ashley’s company said it would “continue to fully engage [...]
Mike Ashley in talks to sell Newcastle United for £340m January 26, 2020 Retail tycoon Mike Ashley is in talks to sell Newcastle United football club to a consortium including Saudi Arabia’s sovereign wealth fund for £340m. The billionaire owner of Sports Direct – recently renamed Frasers Group – bought Newcastle United in 2007 but is now in talks with a group led by British financier Amanda Staveley [...]