Tag : Mike Ashley
Ashley injects 'own DNA' into House of FraserSubscription
House of Fraser suppliers and industry sources expressed little surprise today as Sports Direct owner Mike Ashley culled senior management at the troubled department store chain.
Update: Sports Direct on Magasin du Nord saleSubscription
Sports Direct said it has not been formally approached by Debenhams with details of an offer for its Danish department store chain Magasin du Nord, following reports that it has threatened to block a sale.
Mike Ashley’s Sports Direct is understood to have offered loans to some suppliers that are struggling to cope with unpaid debts from the collapse of House of Fraser.
Philip Day’s Edinburgh Woollen Mill Group (EWM) has temporarily closed its House of Fraser concessions, including Berwin & Berwin, Jaeger, Jane Norman and Calvetron Brands while discussions continue, Drapers can reveal.
Mike Ashley has called for House of Fraser’s former directors to face an Insolvency Service inquiry, claiming they “misled” suppliers and warehouse operators.
Comment: It's time for action on the high street Subscription
Drapers’ Emily Sutherland questions whether reviews, inquiries and panels really represent the best route forward for the high street.
Sports Direct may face more shareholder unrestSubscription
Sports Direct founder Mike Ashley and chairman Keith Hellawell could face yet another shareholder revolt at the annual meeting next month, amid calls to vote against their re-election to the board.
Suppliers braced for more pain from HoF fallout Subscription
Mike Ashley secured House of Fraser’s future on London’s Oxford Street this week, however, suppliers have warned of job losses, profit shortfalls and even risk of closure as debts are revealed.
Harrods managing director Michael Ward has spoken out in support of Sports Direct owner Mike Ashley’s plans to restore House of Fraser.
HoF collapse puts XPO Logistics jobs at riskSubscription
XPO Logistics, the company running House of Fraser’s Wellingborough and Milton Keynes distribution centres, has placed more than 600 members of staff into consultation, following the retailer’s fall into administration.