Game recommends Sports Direct takeover offer June 21, 2019 Game has recommended shareholders approve a £51.9m takeover offer from Sports Direct. The company said Mike Ashley’s offer of 30p per share represents a “fair value” for the group. Read more: Mike Ashley’s Sports Direct lines up game takeover Game said the takeover would help it drive forward its esports initiative Belong Gaming Arenas. However, [...]
Goals ‘blocks’ Mike Ashley probe into £12m accounting crisis June 19, 2019 Goals Soccer Centre is accused of having “stonewalled” calls from its largest shareholder, Sports Direct, for an external probe into its £12m accounting crisis. Sports Direct billionaire Mike Ashley had urged Goals to green light an external investigation over fears about the scale of the accounting issues. Read more: Goals warns of weaker results amid [...]
Sports Direct HQ sold to Malaysian pension fund for £120m May 28, 2019 Mike Ashley’s Sports Direct has confirmed the freehold sale of its headquarters to a Malaysian pension fund. The sportswear retailer, which will continue to occupy the building on a 15-year lease, said this morning that it has sold its logistics centre to Kwasa Logix Sportivo for more than £120m in cash. Read more: Debenhams versus [...]
Sports Direct mulls legal challenge over Debenhams rescue plan May 19, 2019 Mike Ashley’s Sports Direct is looking to launch legal action against Debenhams over a controversial rescue deal secured earlier this month. The sportswear group is set to challenge two company voluntary arrangements (CVA) that could lead to the closure of 50 the chain’s 166 stores, with rent cuts expected on dozens more. Read more: Local [...]
It’s time to challenge Corbyn’s grotesque stereotype of business May 17, 2019 This week, business leader and rich list regular Julian Richer announced that he was handing over 60 per cent of shares in his company to the firm’s 522 employees. You’d be forgiven if you missed this news. Despite Richer Sounds’ 53 stores across the country and annual turnover of £157.5m, the founder is hardly a [...]
Britain has too many shops – no wonder more and more are being boarded up May 13, 2019 Boarded-up shop fronts are a common sight during recessions. In the early 1990s, they became an eyesore for town centres and the Conservative government alike, an everyday visual reminder of the economic slump that dragged the Tories lower and lower in the polls (albeit not low enough to deliver Neil Kinnock into Downing Street, once [...]
Sir Philip Green loses his billionaire status May 12, 2019 Sir Philip Green has lost his billionaire status, rounding off a torrid 12 months for the scandal-hit fashion mogul. For the first time since 2002, Green can no longer count himself a member of the billionaires club after seeing his personal fortune halve over the course of the last year. The Topshop tycoon and his [...]
India’s richest man Mukesh Ambani snaps up iconic toy store Hamleys May 10, 2019 Iconic toy retailer Hamleys has been sold to India’s richest man Mukesh Ambani for an undisclosed sum. Mumbai-headquartered conglomerate Reliance Industries, which is owned by Ambani, said late last night it had signed a deal to buy the chain from Chinese giant C Banner International. Read more: Billionaire Mike Ashley may bid for iconic toy [...]
Debenhams versus Mike Ashley: Something has gone horribly wrong May 9, 2019 Magpies are among the world’s cleverest animals. Prone to cunning theft from other nests, they enjoy a surprising degree of protection. Foiled Debenhams suitor Mike Ashley won’t miss the irony that while his Newcastle United Football Club is nicknamed after these swooping robbers, a marauding band of debtholders have led a planned effort to steal [...]
Debenhams to close 22 stores in 2020 as lenders warn of 1,200 job losses April 26, 2019 Debenhams revealed its store closure plan this morning, with up to 22 stores expected to be shuttered in 2020. Around 1,200 jobs are at risk due to the two Company Voluntary Arrangements (CVAs), one for property and one for retail, the company said today. Read more: Debenhams owners to outline plans to shut 20 stores The [...]