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Mike Ashley sizes up stake in House of Fraser

Mike Ashley, owner of Sport Direct, is understood to be eying a stake in department store House of Fraser.

Ashley is understood to have held talks with some of House of Fraser shareholders about buying out investors and creating a strategic partnership.

A deal could be revealed in the next couple of weeks, according to The Telegraph.

House of Fraser was bought in 2006 from public market investors for £351m by a consortium led by Icelandic investor Baugur, which has since collapsed.

Shareholders include Icelandic bank Landsbanki, chairman of the department store Don McCarthy and TBH Trading, which is thought to be the investment vehicle of Sir Tom Hunter, who is also an investor in Sports Direct. Karen Millen co-founder Kevin Stanford is also a House of Fraser shareholder.

Ashley has been on the acquisition trail of late buying young fashion brand Firetrap as well as snapping up a majority stake in fashion chains USC and Cruise last year.

Readers' comments (4)

  • HOF and Ashley are chalk and cheese. Would they really entertain him getting involved? Ashley takes things to the lowest common denominator and above all else, can he be trusted???

    Unsuitable or offensive?

  • The power of Donnay, can't fault him

    Unsuitable or offensive?

  • The Rupert Murdoch of young fashion strikes again

    Unsuitable or offensive?

  • This man is one of those responsible for taking the UK High Street sport and fashion retail sector into the gutter!!!
    Annoying thing is that there is a large number of UK consumers who quite like gutter surfing.......

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