Sports Direct’s Mike Ashley makes move for Links of London
Retail magnate Mike Ashley is hoping to ramp up his high street spending spree after putting in an offer for troubled jewellery group Links of London.
The Sports Direct owner is tabling a bid to snap up the retail outlet, according to Sky News, which has reported that Ashley is one of two final bidders for the group.
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The move would mark the latest in a string of major high street acquisitions from Ashley, having bought up the likes of House of Fraser and Jack Wills over the last 12 months.
Last month the owner of Links of London confirmed that it had drafted in advisers to weigh up a sale of the troubled jewellery group.
Folli Follie, the Greek group which acquired the retail chain in 2006, has said it has told Deloitte and Savigny Partners to look into the option of finding a buyer for Links, which “remains in the process of a turnaround plan that the company continues to support”.
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Speculation of Ashley’s potential purchase of the retailer comes days ahead of a major shareholder vote at Sports Direct, where Ashley faces a potential rebellion from investors.
Advisory firm Institutional Shareholder Services has called for investors to vote against Ashley’s re-election as a director amid “significant operational and governance concerns” at the budget sportswear group.