Mike Ashley’s Sports Direct faces legal challenge over claims sacked USC staff were given 15 minute warning February 9, 2015 Former USC staff who were made redundant when the fast fashion business was put into administration are taking legal action, claiming they received just 15 minutes' consultation over the job losses. The chain, which is owned by Mike Ashley's Sports Direct, was put into administration last month and bought out just a few days later [...]
Mike Ashley’s Sports Direct faces million-pound claim over bonus scheme which excluded zero-hour contracted staff February 3, 2015 Mike Ashley’s Sports Direct faces legal claims over its bonus scheme from hundreds of staff working at its stores which could run into millions of pounds. Nearly 300 workers on zero-hours contracts were excluded from a bonus scheme which gave around 2,000 staff who were permanently employed a windfall share of £160m worth of shares [...]
Mike Ashley could face parliamentary investigation over USC February 2, 2015 Mike Ashley could face a grilling by Scottish MPs over the administration of USC, with politicians pressing to launch a full parliamentary investigation into his activities. The Scottish Affairs Committee is launching an inquiry into the fast fashion chain, with MPs last week branding the redundancies of more than 200 “despicable” and “appalling”. [...]
Sports Direct boss strengthens hold on Rangers with loan deal January 27, 2015 GLASGOW Rangers yesterday accepted a long-term credit facility of £10m from Sports Direct boss Mike Ashley. The football club admitted its financial condition has been made worse by poor match attendance. The facility is structured in two interest free tranches with £5m available immediately for working capital purposes and the repayment of previous debt, with [...]
Sports Direct share price tumbles after Mike Ashley sells three per cent stake January 21, 2015 Sports Direct shares have fallen over five per cent in this morning's trading after Goldman Sachs revealed yesterday that it was selling a 2.57 per cent stake on behalf of company founder Mike Ashley. Ashley’s holding in the UK’s biggest sports retailer has been cut down to 55 per cent following the placing of 15.4m [...]
Newcastle United owner Mike Ashley to raise £117m from Sports Direct share sale January 20, 2015 Goldman Sachs is selling up to 15.4m ordinary shares in sports retailer Sports Direct on behalf of founder and deputy executive Mike Ashley. In a statement the investment bank said it would immediately start selling the shares by way of an accelerated bookbuild to institutional investors. At today’s closing price of 751p per [...]
Christmas comes early in the Singleton house: Sports Direct non-executive director gives wife £244,300 in shares December 22, 2014 A non-executive director at Sports Direct has given £244,300 worth of company shares to his wife “by way of gift”. In a company announcement made earlier today, the British retailing group revealed that David Singleton gave 35,000 of the shares to Elizabeth Singleton. The shares, each worth 698 pence, were held beneficially by him. [...]
Sports Direct brushes off England’s early World Cup exit but results show even Mike Ashley can’t predict the weather December 11, 2014 Sports Direct has brushed off England's disappointing World Cup performance but it seems owner Mike Ashley is not immune to the unseasonal weather. The figures Group revenue rose 6.5 per cent to £1.4bn in the six months to 26 October. Underlying earnings before interest, taxes, depreciation, and amortisation rose 11pc to £203.1m, excluding charges related to the [...]
Sports Direct kicks back at Ed Miliband for zero-hours contract criticism November 15, 2014 Sports Direct has dismissed negative comments made by Labour leader Ed Miliband about its employment contracts. Miliband said the use of zero-hours contracts – where the retailer does not have to guarantee regular work to its employees – meant it was a “terrible place to work”, and added that he intends to “ban the [...]
Mike Ashley’s Sports Direct gives up naming rights to Rangers Ibrox Stadium and loans club an extra £1m November 12, 2014 Mike Ashley has given up his rights to rename Rangers football club’s Ibrox stadium and loaned the struggling club an additional £1m. The Sports Direct owner, who also owns a stake in the Scottish club, bought the naming rights two years ago for just £1, but the deal was only revealed in September. The miniscule [...]