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’The first major retail casualty of 2012?
In association with Blacks Leisure, the UK’s leading retailer of outdoor specialist clothing, footwear and equipment, we bring you another tale of woe from Britain’s high street, which not long from now will consist of nothing more than tanning salons,
The curious case of the JJB cash call [updated and explained]
If Wednesday’s cash call from Commerzbank is mind-numbingly complex, then the latest fund raise from JJB Sports, the struggling sports retailer, is downright odd.
First, let’s consider the fees.
JJB is raising £65m of which £5m will be paid out in fees,
Snap news
Breaking pre-market news on Thursday,
- Simon Property Group welcomes decision by Capital Shopping Centres to delay EGM — statement.
- Misys to return £145m to shareholders — statement.
- BG Group makes another discovery in the Tupi field — statement.
Snap news
Breaking pre-market news on Tuesday,
- Autonomy announces results two days ahead of schedule; says there has been no softening of demand — statement.
- Mike Ashley’s Sports Direct says SFO not to bring charges against company in JJB case — statement.
Snap news
Breaking pre-market news on Tuesday,
- Mike Ashley’s Sports Direct is considering bid for Blacks Leisure – statement and statement.
- AIB reports FY operating loss of €2.4bn – statement.
- Lyondell said to reject $14.5bn Reliance bid – Bloomberg.
Let the games begin…
You can imagine the look of glee on Mike Ashley’s chubby face (he’s the one on the right by the way).
Shareholders at Blacks Leisure had been preparing to vote on the retailer’s £22m fund raising on Wednesday morning.
Shareholder activism – Mike Ashley style (updated)
You have to admire the chuzpah of the Sports Direct owner — he’s the one on the right by the way.
His company might face an OFT probe into alleged cartel activity in the sports retail market, and a criminal investigation by the Serious Fraud Office.
Call off the search, Sports Direct edition
It’s over.
After a two and half year search, the UK’s biggest sports retailer has finally found someone brave enough to take on the job of chairman.
From RNS on Tuesday.
Sports Direct International plc today announces the appointment of Dr Keith Hellawell QPM as non-executive Chairman of the Board with immediate effect.
Welcome to the world of sporting retail…
… in the UK.
If maverick businessman Mike Ashley – he’s the one the right – needed something to take his mind off the Newcastle United sale process, he’s certainly got it.
From the London stock exchange’s Regulatory News Service (RNS).
Through the keyhole with FT Alphaville
Yep, we have come over all Lloyd Grossman.
The game is to guess whose pad this might be:
A premiership footballer perhaps? A soap star? An ageing light entertainer? Or what about the boss of a struggling sportswear retailer?
That’s right,
The Bank of Mike Ashley
After days of press comment, JJB Sports has finally broken its silence on the extraordinary loan its executive chairman, Sir David Jones CBE, took from the owner of its biggest rival, Sports Direct’s Mike Ashley.
admin@nufc.co.uk
Ever wondered how you go about selling an ailing football club with a ruinously high wage bill that has been serially mismanaged for years?
Via email, of course.
The Board of Newcastle United can today confirm that the Club is for sale at the price of £100m.
You’re fired
The man on left is Paul Kemsley.
Apart from being mates with Sir Philip Green and ‘Magpie’ Mike Ashley, this wannabe property magnate he is probably best known for his appearances on the Apprentice as one of Surallun Sugar’s guest interogators.
Sports Direct founder in casino row
Mike Ashley, the controversial founder of UK sports retailer Sports Direct and owner of Newcastle United football club, faces a legal threat to his attempt to acquire Les Ambassadeurs, the plush London casino,
Kemsley and friend take a shine to Shaftesbury
Stake-building talk around London property company Shaftesbury is nothing new. But now there’s the names to go with it.
Old friends Mike Ashley and Paul Kemsley have apparently been building a holding in the listed group that owns much of Carnaby Street,
Sports Direct’s Ashley rebuilds Amer stake
Mike Ashley, founder of UK sports retailer Sports Direct, has returned to playing the stock market by rebuilding a stake in Finland’s Amer Sports that was sold in November. The renewed 5% investment in Amer,
Hokey Cokey Ashley gets back into Amer
In, out, in, out, shake it all about. An unpleasant mental image early on a Wednesday morning. But Mike Ashley has got his sports retailer doing a Scandinavian variant of the Hokey Cokey with Helsinki-listed Amer Sports.
Sports Direct founder entertains and blames
Mike Ashley, the maverick founder of Sports Direct, has blamed the troubled state of the UK retail group on “three train wrecks” – summer rain, slow Christmas trading and the poor performance of the England national football team.
Mike Ashley — direct
Just in time for the extraordinary meeting and interim results of UK sports retailer Sports Direct on Wednesday, Mike Ashley’s old friend Chris Ronnie at JJB Sports has bought the Original Shoe Company chain for £5m from the controversial Sports Direct chief,
Nike to UK’s Ashley: Stay out of Umbro bid
Mike Ashley is engaged in talks with Nike as the US sportswear company tries to persuade the maverick UK entrepreneur not to block its agreed bid for Umbro, kit sponsor to the England football team. The talks are the first sign that Ashley is willing to negotiate with Nike over its £285m takeover of Umbro,
UK insurers’ body hits at Sports Direct
The embattled billionaire Mike Ashley faces a new row with the City after the Association of British Insurers criticised Sports Direct over the way the company has been run since joining the stock market,
Sports Direct in share buy-back
Mike Ashley, deputy chairman of Sports Direct, edged closer to taking private the UK sports retailer he founded after announcing a share buy-back plan that could raise his holding to as much as 72.2%. Sports Direct,
Sports Direct sells Amer stake
Sports Direct, the retailer controlled by Mike Ashley, is to reduce its debt after selling a stake in a Finnish sportswear company at a profit. The controversial UK company announced after the market closed that it had sold its entire holding in Amer Sports,
Sports Direct raises Umbro stake
Mike Ashley took on Nike, the world’s biggest sportswear brand, by doubling his retail chain’s stake in Umbro, in an audacious gambit to safeguard his interests in the maker of England football shirts.
Ashley blocks Nike. Comprehensively
An intriguing “print” in the market for sportswear group Umbro on Tuesday: a parcel of 16m shares changed hands at 195p apiece – an 11 per cent stake in a company that America’s Nike was hoping to take over.
Nike agrees £285m Umbro deal
Nike will somersault Adidas to become the biggest brand in world football if its £285m bid for the UK’s Umbro is successful. The American sportswear company, the biggest in the world, on Tuesday outlined an agreed 195p-a-share cash offer for Umbro,
Russia 2, England 1, Umbro 33
It smacks of opportunism. With the national football team melting in front of our eyes here in the UK, and with sales of replica shirts and the like set to plummet as a result, someone has lobbed in a bid for Umbro,
That Paul Kemsley, Philip Green and Mike Ashley pic…
Reprinted by popular demand (since certain readers couldn’t find it using our search function ).
We’re not quite sure how, or why, these cheerful chappies were captured together by a photographer from Sharjo.
Sports Direct swoops for Nevisport
The Sports Direct group of the UK sporting goods entrepreneur Mike Ashley is understood to have made yet another acquisition, buying Nevisport, a Scottish outdoor sports chain. Mr Ashley, who has infuriated the City by failing to provide detailed financial information,
Face-off as analyst slashes UK’s Sports Direct
The fraught relationship between the City of London and Mike Ashley, of UK sporting equipment retailer Sports Direct, threatens to deteriorate even further after a leading analyst slashed his valuation of the business by £330m on Thursday,