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The Latest Breaking News from Frasers

Boohoo was already a governance mess. Enter Mike Ashley for extra complexity

Frasers wants its founder to be boss of the ailing fashion retailer. But Ashley isn’t ruling out being a bidder himself in any potential break-up

The Guardian - UK

London stocks climb after strong gains for Unilever and Barclays

The FTSE 100 finished 10.74 points, or 0.13%, higher to end the day at 8,269.38.

The Independent UK

Frasers Group calls for Mike Ashley to replace Boohoo chief

Ashley’s Frasers Group, which owns 27% of online retailer, seeks vote on overhaul to ‘set new course’ for future

The Guardian - UK

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Frasers demands appointment of founder Mike Ashley as boss of Boohoo

Frasers warned over what it claimed was a ‘leadership crisis’ at Boohoo after its chief executive last week stepped down.

Evening Standard

Frasers Group criticises management of Mulberry after ditching takeover plans

Mike Ashley’s retail group says it ‘remains concerned about governance’ at luxury brand after final bid rejected

The Guardian - UK

Frasers ditches £111m takeover plans for luxury firm Mulberry

Frasers urged Mulberry to provide a ‘credible’ business plan soon and raised worries over the governance of the fashion firm.

Evening Standard

Frasers abandons its takeover bid for Mulberry

Frasers said it “continues to believe that market headwinds, and a clear lack of commercial plan” place Mulberry “in a very difficult financial position.”

Evening Standard

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Mulberry rejects fresh bid from Mike Ashley’s Frasers Group as ‘untenable’

Frasers had raised its offer from 130p to 150p a share, valuing the British luxury handbag maker at £111m

The Guardian - UK

Mulberry dismisses £111m takeover tilt from Frasers as ‘untenable’

The fashion firm said its board would rather focus on ‘driving the commercial performance of the business’ than backing the 150p-a-share approach.

Evening Standard

Mulberry set to stay out of the clutches of Frasers after Challice backing

Frasers upped its offer for Mulberry to 150p a share, valuing the company at £111 million, on Friday

Evening Standard

Mulberry’s owner rejects increased £111m bid from Mike Ashley’s Frasers Group

Majority owner, Challice, says it has no interest in selling shares to group that already owns 37% of luxury brand

The Guardian - UK

Mike Ashley’s Frasers Group takes £10m stake in online retailer THG

Move is part of THG raising £95.4m to fund demerger of lossmaking technology arm Ingenuity

The Guardian - UK

Mulberry rejects £83m takeover bid from Mike Ashley’s Frasers Group

British handbag maker says it is raising cash for turnaround and does not need offer from Sports Direct owner

The Guardian - UK

Mike Ashley’s Frasers Group makes £83m offer for handbag maker Mulberry

Sports Direct owner looks to up 37% stake to 100% amid concerns for future of cash-strapped fashion firm

The Guardian - UK

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The Guardian - UK

Frasers Group seeks approval for Mike Ashley to cash in £585m in share buyback

Company wants investors’ permission to buy billionaire’s shares in private deal at market price at the time

The Independent UK

Myprotein operator THG strikes deal with Frasers for consumer credit roll-out

THG also revealed it has clinched a deal to sell its luxury brand Coggles to Frasers.

The Guardian - UK

Frasers buys THG’s Coggles website as they unveil partnership deal

Sports Direct owner to acquire luxury goods sites and sell online retailer’s protein powder in its shops

The Guardian - UK

How town centres are recovering from the fall of Debenhams

Former Debenhams stores across the UK are being reinvented, with a dizzying array of new uses – but only a third of the sites are now occupied by retailers

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The Guardian - UK

UK gas prices hit highest level of 2024 after crack closes Norwegian pipeline; UK factories return to growth – as it happened

Rolling coverage of the latest economic and financial news, as wholesale gas prices rise after disruption to supplies from Norway

The Guardian - UK

Designer brands owed millions after Matchesfashion collapse

Some customers of the online fashion site, which owed more than £210m when it collapsed in March, are also unable to get refunds

Cycling Weekly

Evans Cycles store lines its walls with cut-price WiggleCRC stock

Leftover stock being sold off through Wiggle's new stablemate at Mike Ashley's Frasers Group

The Guardian - UK

Frasers’ new director is boyfriend of owner Mike Ashley’s daughter

David Al-Mudallal, who is in a relationship with Matilda Ashley, appointed to Sports Direct parent company’s board

Bike Perfect

Mike Ashley's Frasers Group to relaunch Chain Reaction and Wiggle websites and look to continue MTB brands Nukeproof, Vitus and Ragley

After months of speculation, details emerged on the future of WiggleCRC and their in-house brands

The Guardian - UK

US jobless rate rises to two-year high while wage growth slows – as it happened

US economy adds 275,000 jobs, more than expected but that strength is partly offset by downward revisions to past months

Cycling News

Frasers Group reportedly set to scoop up remnants of WiggleCRC for less than £10 million

Acquisition follows on from February news that business was laying off its entire workforce

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