Mike Ashley’s Frasers Group urges PM to reform business rates system January 14, 2020 Mike Ashley’s Frasers Group, formerly known as Sports Direct, has written to the Prime Minister to ask him to urgently review the business rates scheme. In a letter to Boris Johnson, Frasers Group finance chief Chris Wootton urged the government to reform the transitional relief system, which he said results in some stores “paying the [...]
Game calls for ‘realistic’ rents as it closes 40 stores across the UK January 9, 2020 Game today urged its landlords to set “realistic” rents as the retailer confirmed it will close 40 stores across the country. The video game chain, which is owned by Mike Ashley’s Sports Direct, had already served notice to 13 sites, including Watford, Canterbury and Leicester. Read more: Sports Direct set for Game Digital takeover after [...]
Sports Direct shares soar on profit jump December 16, 2019 Sports Direct’s shares soared this morning as the retailer posted a jump in profit and revealed that it was beginning to see the “green shoots of recovery” at House of Fraser. The figures The company’s share price surged more than 30 per cent to 470p after the high street store said reported profit before tax [...]
Goals Soccer Centres: Sports Direct says ‘skulduggery’ wiped out shareholders October 23, 2019 Retailer Sports Direct has today blasted the management of Goals Soccer Centres after the five-a-side football firm delisted from Aim after an accounting scandal. Goals suspended shares in March after saying its financial results contained a misdeclaration of VAT, leaving a black hole in its accounts of more than £12m. Read more: Goals Soccer Centres [...]
Mike Ashley kicks off £4m takeover for Goals Soccer Centres September 23, 2019 Goals Soccer Centre has said it is discussing a takeover bid with high street tycoon Mike Ashley after his Sports Direct said it wanted to take the company private, valuing it at £3.76m. Sports Direct, of which Ashley is the main shareholder, said it was offering 5p a share for the just over 80 per [...]
Mike Ashley survives shareholder vote at Sports Direct meeting September 11, 2019 Mike Ashley emerged from today’s Sports Direct meeting relatively unscathed as shareholders voted to re-elect him as a director of the FTSE-250 firm. In total, 90.99 per cent voted to reappoint Ashley as a director and 9.01 per cent voting against. However, Ashley owns 61 per cent of the shares. Read more: Mike Ashley to [...]
Sports Direct pleads with big four auditors to check its books September 10, 2019 Sports Direct, the retailer founded by Mike Ashley, is pleading with the big four accountancy firms to audit its books as it worries smaller accountants would not be up to the task. Over the last fortnight the company has sent overtures to the auditors ahead of its annual general meeting tomorrow, Sky News reported. Grant [...]
Mike Ashley to face shareholder anger at Sports Direct meeting September 10, 2019 Retail tycoon Mike Ashley is preparing to face frustrated Sports Direct shareholders at a meeting tomorrow following a turbulent year for the business. The founder and chief executive of the sportswear retailer has come under fire from shareholder advisory groups in the run up to tomorrow’s annual general meeting. Read more: Mike Ashley makes move [...]
Not in the pink anymore: Jack Wills collapse leaves creditors out of pocket September 8, 2019 Jack Wills owed over £100m to creditors including HSBC and several councils when it collapsed into administration last month. The preppy clothing brand was bought by Mike Ashley’s Sports Direct for £12.8m in August, faces leaving a slew of companies out of pocket. Read more: Jack Wills stores at risk as Sports Direct kicks off [...]
Opposition to Mike Ashley builds ahead of Sports Direct meeting August 29, 2019 A third proxy adviser has today recommended shareholders attempt to oust Mike Ashley at the upcoming Sports Direct annual meeting due to concerns about a string of controversies at the FTSE 250 retailer. Institutional Shareholder Services (ISS) has joined advisory firms Glass Lewis and Pirc to recommend that investors vote against Ashley’s re-election as a [...]