Mike Ashley news and archive

Frasers Group secures almost 6 percent stake in Puma

Investors snapped up shares in Adidas and Puma on Thursday. With share price gains of 4.1 percent and 6.9 percent, the two sportswear manufacturers led the list of gainers on the Dax and MDax respectively. A transaction by British billionaire and investor Michael Ashley provided a boost for Puma. Specifically, it involves the sale of financial...

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Mike Ashley doubles down on intention to helm Boohoo

After Boohoo turned down his offer to take over the firm’s management, Mike Ashley, the founder of Frasers Group, has doubled down on his mission to helm the fast fashion giant. In a letter to The Sunday Times, the businessman underlined the urgency to which someone must fill the currently vacant chief executive position at Boohoo after the...

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Boohoo responds to Frasers letter demanding Mike Ashley’s appointment as CEO

Boohoo has responded to Frasers Group’s open letter yesterday demanding to replace the company's current CEO John Lyttle with the appointment of Mike Ashley. Boohoo said in the statement: "Frasers' wish for Mike Ashley to be appointed as a director and chief executive officer was first communicated by Frasers at an in-person meeting on the...

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Mike Ashley calls to be appointed CEO of Boohoo, brand unveils identity refresh

Frasers Group’s Mike Ashley has requested to be appointed the chief executive officer and a director of fast fashion giant Boohoo Group where an apparent “leadership crisis” is resulting in declining revenues and a falling share price. The call was made in an open letter to Boohoo from Frasers, where it said the group is requisitioning a general...

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Sports Direct fails to secure injunction against Newcastle United over replica kits

Mike Ashley’s Sports Direct has been unable to secure an injunction against Newcastle United Football Club (NUFC) that would have allowed the retailer to sell the club’s replica kits for the 2024/25 season. The sportswear retailer filed a complaint against NUFC with the Competition Appeal Tribunal during March, in which it had alleged that the...

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Frasers Group promotes boyfriend of Mike Ashley’s daughter to board

David Al-Mudallal, the chief operating officer of Frasers Group and the boyfriend of Mike Ashley’s daughter, has reportedly been appointed to the retail giant’s board of directors. This is according to the Sunday Times, which also reported that Al-Mudallal was in a relationship with Matilda Ashley, the daughter of Frasers’ founder and majority...

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Mike Ashley seeks injunction against Newcastle United over replica kit deal

Frasers Group owner Mike Ashley is seeking an injunction against Newcastle United Football Club (NUFC) regarding a disagreement over the distribution of the club’s replica kits. Ashley, through his group’s portfolio company Sports Direct, has filed the claim to the Competition Appeal Tribunal, in which he alleged that the club had “abused its...

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Management

Mike Ashley reportedly eyeing Leeds outlet shopping centre

Mike Ashley reportedly has his eyes on his next acquisition - an outlet shopping centre on the outskirts of Leeds. Ashley, who is the founder of fashion giant Frasers Group, has offered nearly 50 million pounds for Junction 32 shopping outlet, The Times reports. The 250,000 square foot retail property is home to close to 100 stores, including...

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Mulberry believed to have denied Mike Ashley’s board seat bid

Luxury brand Mulberry has reportedly rejected Mike Ashley’s bid to join its board after the retail tycoon expressed concern over the company’s handling of its Asian business. Ashley’s Frasers Group has a 36.8 percent stake in the British retailer, however it is controlled by Malaysian billionaire Ong Beng Seng, who owns over 56 percent alongside...

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Mike Ashley reportedly returns to Frasers Group in consultancy role

Business tycoon Mike Ashley is believed to have returned to his founding company Frasers Group as a consultant amid the conglomerate’s ongoing acquisition spree. Ashley, who stills owns 69 percent of the retail group, stepped down from the top position last year, later appointing his son-in-law Michael Murray as chief executive. According to The...

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Mike Ashley to step down from Frasers Group board

Mike Ashley will not be standing for re-election as a director at this year's annual general meeting of Frasers Group. He will therefore step down from the company’s board upon the conclusion of the AGM on October 19, 2022. Commenting on his decision to step down from the company’s board of directors, Mike Ashley said: "Since Michael Murray took...

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Mike Ashley steps up legal battle following Debenhams fall out

Business tycoon Mike Ashley has reportedly stepped up his legal battle over the collapse of department store chain Debenhams. The Sports Direct founder is said to be heading to court after his 180 million pound stake in the retailer lost value when the chain went bankrupt two years ago, according to The Mail on Sunday. As seen in legal papers...