Frasers makes U-turn and closes Sports Direct stores
Bike shops such as Evans are also allowed to remain open
Company
Frasers Group PLC
LON:SPD
Frasers Group plc, formerly Sports Direct International plc, is a British retailing group. Established in 1982 by Mike Ashley, the company is the United Kingdom's largest sports-goods retailer and operates roughly 670 stores worldwide.
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Frasers Group drops guidance for current financial year, will not achieve 5 to 15% EBITDA growth
The Mike Ashley-owned business - formerly known as Sports Direct - warned its board "expects that COVID-19 will cause significant disruption to its business"
Mike Ashley's Frasers Group joins call for business rates reform
Frasers said some of its stores pay up to four times more in rates than they should.
Mike Ashley’s Frasers clutches stake in handbag maker Mulberry
Mulberry shares have lost three quarters of their value over the past two years
Frasers Group “least popular stock” in FTSE 250 index, says AJ Bell
The retailer comes with 67% ‘sell’ ratings, but experts urge to take recommendations with caution
2020 or bust: brands we lost in the past decade
The 2010s have been a wild ride for companies, and some of them just couldn't take the strain amid geopolitical upheaval and huge structural change
As Sports Direct becomes Frasers are Ashley's plans pantomime or golden goose?
The sports retailer has been pushing a new strategy in recent years to “elevate” the stores and offer a few more upmarket brands
Sports Direct reports "green shoots" at House of Fraser
The retailer's revenue declined 6.4% to in the 26 weeks to 27 October on a constant currency basis as it pursued its "elevation strategy"
Archive
BoE decision, stress tests, Sports Direct due in coming week
Also on the company news agenda in the coming week are updates from Bunzl, Petrofac, Hunting, Trainline and IntegraFin
Sports Direct proposes name change to Frasers Group
The FTSE 250 retail giant, owned by billionaire tycoon Mike Ashley, will allow shareholders to vote on the name change at 9.30am on 13 December
Goals Soccer asks SFO to investigate fraud, "too late" says Ashley
Mike Ashley, boss of Sports Direct which owns a 19% stake in Goals, said it was “a deliberate case of closing the stable door well after the horse has bolted”
Sports Direct drops Goals bid, Ashley accused bosses of “skulduggery”
The group announced after the market close Tuesday that it was not going to follow through with its 5p per share offer for Goals, in which it owns a 18.9% stake
Sports Direct bemoans “false sense of job insecurity” for HoF workers
The retailer said it is “totally incorrect to assume that there will be large numbers of [House of Fraser] store closures in the new year”
Sports Direct confirms 5p per share approach to Goals Soccer Centres
Sports Direct is Goal Soccer’s largest shareholder with a near 19% stake.
Sports Direct's shareholders vote in large numbers against Mike Ashley's re-election as a director
However, given that Ashley owns 62% of the company, as expected, he was still overwhelmingly backed to continue in the role
Sports Direct lodges takeover bid for Links of London
The future of the jewellery chain has been in doubt since its Greek owner, Folli Follie, became embroiled in an accounting scandal in 2018
Sports Direct investors urged to vote against Mike Ashley’s re-election at September AGM
Pirc wants shareholders to vote against the re-appointment of CEO Ashley, chairman David Daly, and three other directors at next month’s AGM
Sports Direct’s auditor fiasco is pushing UK company law into uncharted waters
The resignation of its long-serving auditor Grant Thornton and a reluctance of the 'Big Four' to take the job has left Mike Ashley's empire in a precarious position
Sports Direct left in the lurch as long-serving auditor quits
Grant Thornton will step down from its role as auditor next month, and none of the other big accounting firms have shown an interest in taking over
Sports Direct continues takeover of UK high street, with £12.75mln cash purchase of clothing retailer Jack Wills
Jack Wills, which was put up for sale since July by private equity owners Bluegem Capital Partners, currently employs 1,800 people and has 110 of its own stores throughout the UK.