Grant Thornton quits as Sports Direct auditor August 14, 2019 Sports Direct faces being left without an auditor after Grant Thornton told the retailer it would not apply for reappointment. The decision threatens to leave Sports Direct high and dry as all of the Big Four firms have indicated they are reluctant to take on the role. The Financial Times reported that Sports Direct has [...]
Mike Ashley’s Sports Direct buys Jack Wills for £12.8m August 5, 2019 Retail tycoon Mike Ashley’s Sports Direct has bought struggling high street brand Jack Wills out of administration for £12.75m. Ashley won a race against British billionaire Philip Day, who owns the Edinburgh Woollen Mill Group, to snap up the “preppy” fashion retailer. Read more: Philip Day tables bid to avoid Jack Wills administration Will Wright [...]
Mike Ashley’s Sports Direct closes in on Jack Wills deal August 4, 2019 Retail tycoon Mike Ashley’s Sports Direct has emerged as the favourite to buy struggling fashion brand Jack Wills Sports Direct is the preferred bidder for the retailer and a deal could be struck as soon as tomorrow, Sky News reported. Read more: Mike Ashley and Philip Day in battle to buy Jack Wills Sources told [...]
Grant Thornton due to quit Sports Direct after €674m Belgian tax bill July 30, 2019 Grant Thornton is reportedly set to quit as Sports Direct’s auditor following unprecedented delays to the publication of the retailer’s annual results on Friday. The auditor will abandon billionaire Mike Ashley after only learning shortly before it was set to sign off on his company’s accounts that Sports Direct owed Belgian tax authorities €674m (£605m), [...]
Shareholders ‘run for the hills’ after Sports Direct’s gloomy delayed results July 29, 2019 Sports Direct’s share price today felt the backlash of investors who had waited until after markets closed last week to learn of the retailer’s dire set of annual results. Mike Ashley’s company saw shares dive as much as 16 per cent to 193.2p in early morning trading after he admitted it owes £605m in an [...]
Sports Direct hit by £605m Belgian tax bill and ‘terminal’ House of Fraser problems July 27, 2019 As Sports Direct finally released its financial results yesterday following the close of the market, Mike Ashley admitted it may have been a mistake to buy House of Fraser last year. The sporting goods retailer delayed announcing its results, which are usually released before the market opens at the start of the day, on three [...]
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: [...]
Confusion reigns as Sports Direct delays annual results again July 26, 2019 Sports Direct’s share price fell this morning as it delayed the release of its annual results ahead of today’s annual general meeting with shareholders. Billionaire Mike Ashley was due to release results for his company at 7am ahead of the London Stock Exchange’s open at 8am. Read more: Sports Direct shares plunge as it delays [...]
Sports Direct: What’s gone wrong for Mike Ashley? July 26, 2019 Even for an unpredictable retail tycoon like Mike Ashley, today’s strange turn of events is unprecedented. Sports Direct was set to release its full-year figures at 7am this morning, before suddenly postponing its statement and cancelling media interviews. Read more: Confusion reigns as Sports Direct delays annual results yet again With no explanation given as [...]
Sports Direct’s share price plunges as it delays results amid House of Fraser uncertainty July 15, 2019 Shares in Mike Ashley’s Sports Direct dived this morning after the firm pushed back the publication of its financial results. The retailer blamed the delay on troubles in its recently-acquired House of Fraser business along with increased regulatory scrutiny over auditor Grant Thornton’s inspection of its books. Read more: Sports Direct expected to post 20 [...]