New Sports Direct boss asserts Mike Ashley is ‘not pulling the strings’ amid of price increase warning SPORTS DIRECT Sports Direct’s new chief has asserted that the retailer’s former boss and his future father-in-law is “not pulling the strings.” In his first interview since stepping into Mike Ashley’s shoes as chief executive of Frasers Group, Michael Murray warned prices would likely go up. The high street titan was facing headwinds “going through the roof,” [...]
Studio Retail Group preparing to call in administrators in blow for largest shareholder Mike Ashley’s Fraser Group STUDIO RETAIL Online value retailer Studio Retail Group, whose largest shareholder is Mike Ashley’s Frasers Group, is posed to call in administrators. The Accrington-based firm said it had not been able to reach agreement with its UK lenders for additional funding it needed. Studio Retail had requested a short-term loan of £25m to fund surplus stockholding which [...]
Mike Ashley’s Sports Direct and House of Fraser empire kicks off £70m share buyback plan Mike likes Retail baron Miek Ashley has announced the start of a £70m share buyback plan for Frasers in an attempt to boost the company’s share price. Bosses at the group, which includes department store House of Fraser and retail chains Sports Direct and Game, said the plan is to reduce the number of shares in circulation. [...]
Mike Ashley to hand reins of Sports Direct retail empire to future son-in-law August 5, 2021 The board of Frasers Group confirmed suspicions that CEO Mike Ashley will be replaced next year by his daughter’s fiancé, Michael Murray, in the group’s financial update. 31-year-old Murray is currently the firm’s “head of elevation” and has been in charge of modernise the owner of Sports Direct and House of Fraser, as well as [...]
Mike Ashley ‘set to step down’ as chief exec of Frasers Group August 3, 2021 Mike Ashley is reportedly set to hand control of his retail empire to his prospective son-in-laww after nearly 40 years in charge of Sports Direct. The Telegraph reported that the Frasers Group chief executive could confirm the decision alongside the firm’s results on Thursday. It is expected that he will become the deputy chairman of [...]
Mike Ashley’s Frasers Group launches £60m buying spree despite recent Covid setbacks May 4, 2021 Mike Ashley’s Frasers Group has announced plans to spend £60m between now and and July despite warning less than a month ago that it would suffer a £200m hit from the Covid-19 pandemic. The company, which includes House of Fraser, Sports Direct, Evans Cycles and Jack Wills, among others, will start the buying spree later [...]
Sports Direct founder Mike Ashley ordered to replace signage on 180-year-old department store in row with council April 22, 2021 Frasers’ boss Mike Ashley has been ordered to replace the letters of a 180-year-old landmark department store in Edinburgh. Ashley, the founder of Sports Direct, has been issued with a formal notice to Sports Direct International, now rebranded as Frasers Group, over work “executed to the listed building… having regard to the effect of the [...]
Mike Ashley’s Frasers Group to take £100m hit on lockdown restrictions February 23, 2021 Frasers Group, the retail empire owned by Sports Direct founder Mike Ashley, announced this morning that it expects to take a £100m hit due to lockdown restrictions. The retailer, which also owns House of Fraser and Jack Wills, said the length of the current lockdown, potential changes to consumer behaviour and the risk of future [...]
Topshop owner Arcadia collapses putting 13,000 jobs at risk December 1, 2020 Sir Philip Green’s retail empire Arcadia, the owner of Topshop and Dorothy Perkins, has collapsed into administration, putting more than 13,000 jobs at risk. The company, which has become the biggest retail casualty of the coronavirus crisis, announced this evening that it has appointed Deloitte as administrator. More than 13,000 jobs are at risk following [...]
Mike Ashley offers Philip Green’s embattled Arcadia emergency funding November 30, 2020 Mike Ashley has offered emergency funding to fellow retail billionaire Sir Philip Green’s Arcadia empire, which is on the brink of bankruptcy. After speculation that a deal was in the offing over the weekend, Ashley’s Frasers Group today confirmed that it had offered the Topshop-owner £50m in loans. It added that should the company enter [...]