FA Cup quarter-finals: Competition presents a rare opportunity for non-Premier League Big Six sides to make their mark March 14, 2019 The best advertising strikes a chord with consumers and BT Sport’s publicity for its FA Cup coverage has neatly captured the mood around this season’s competition. In the advert, common grievances about football's oldest competition – not enough giant-killings, an unwanted break from fantasy football, a halting of league momentum – are aired. An oversized [...]
Debenhams considers Mike Ashley’s £150m loan offer March 14, 2019 Debenhams said it will give “careful consideration” to Sports Direct’s proposed £150m loan this morning, after receiving the offer last night. Read more: Sports Direct accuses Debenhams of 'deliberately misleading' the market The struggling department store chain received the 12-month loan offer from billionaire Mike Ashley last night, as the retail magnate accused the board [...]
Mike Ashley’s Sports Direct accuses Debenhams of ‘deliberately misleading’ the market March 13, 2019 Mike Ashley’s Sports Direct has accused the Debenhams board of “deliberately misleading” the market as the retail tycoon continues to pile the pressure on the struggling high street firm. Sports Direct, which owns a 30 per cent stake in Debenhams, has written to the Financial Conduct Authority (FCA) with concerns that recent trading updates have misled investors [...]
Debenhams strikes back against Mike Ashley with ‘advanced’ plans to raise £110m March 11, 2019 Debenhams said “advanced negotiations” are underway to secure up to £150m in loans to keep it alive this morning, as it fights back against Mike Ashley’s bid to oust the board. The struggling retailer said the £40m bridging loan it secured in early February comprises part of this sum, but that it is seeking to [...]
MPs investigate Debenhams’ pension schemes as retailer struggles to stay afloat March 8, 2019 MPs are scrutinising the Pensions Regulator’s possible involvement in Debenhams’ refinancing discussions after the retailer issued a second profit warning earlier this week. Read more: Debenhams shares jump on Mike Ashley power grab Work and pensions committee chair Frank Field wrote to the regulator’s chief executive, Lesley Titcomb, to probe its involvement with the struggling [...]
What’s Mike Ashley’s game with Debenhams? March 8, 2019 Mike Ashley is consistent in the way he always manages to surprise us. On Thursday night in a post-market RNS the Sports Direct boss announced he was planning a boardroom cull at Debenhams, installing himself as chief executive officer. Only the recently appointed Rachel Osborne would survive the cull. On Tuesday, after Debs warned on [...]
Debenhams shares bounce back as Mike Ashley launches power grab March 8, 2019 Shares in embattled department store chain Debenhams jumped as much as 25 per cent this morning after Mike Ashley launched an audacious bid to take control of the company. The retail mogul last night demanded an extraordinary general meeting of Debenhams shareholders, calling for all but one of the existing board members to be ousted. Read [...]
Mike Ashley moves to oust Debenhams board and appoint himself as director March 7, 2019 Retail tycoon Mike Ashley has ramped up the pressure on embattled department store chain Debenhams this evening, after making an audacious bid to axe most of the firm’s directors and appoint himself to the board. In a surprise announcement made on the London Stock Exchange tonight, the billionaire magnate pledged to step down from his current role [...]
The high street can be saved if physical shops and online retailers collaborate and use data March 5, 2019 In January, affiliate marketing company Awin released research showing that 39 per cent of Britons wouldn’t really mind if we lost all high street stores altogether, with over a third of respondents saying that they “almost never” shopped there anyway. News stories about high street stalwarts being in the doldrums have become a recurring theme, from [...]
Debenhams issues fresh profit warning as expectations are ‘no longer valid’ March 5, 2019 Debenhams warned this morning that its profit expectations for the current year were "no longer valid", as a combination of increased financing costs and market uncertainties signalled further disruption for the embattled department store chain. The high street retailer has withdrawn its full-year outlook today, saying discussions with stakeholders have "now progressed to include options to [...]