News about Mike Ashley

Staveley, who helped a Saudia Arabia-based consortium take over Newcastle from Mike Ashley in 2021, has already had a bid to throw the case out dismissed. The situation stems back to 2008, when former Manchester City director Victor Restis, made a £10m payment to Staveley which he now wants her to repay. Restis issued the statutory demand for £36.8m in May of last year after he made a £10m investment in Staveley's business ventures in 2008.

The online fashion retailer revealed adjusted pre-tax losses climbed to £120million in the six months ending 3 March, from £87.4million over the same period last year. Its margins were significantly impacted by heavy discounting aimed at removing old stock accumulated during the peak of Covid-related restrictions.

EMILY PRESCOTT: Victoria Beckham has called in 'the mother of all returns' after the collapse of fashion group Matches. The former Spice Girl and bosses at her VB label have demanded that the online retailer gives back all the summer stock she sent to it in March, only to learn days later that the company had failed. A VB source says she has been working with Mike Ashley's Frasers Group, which bought Matches last December, to get her clothes back because she fears the firm, now in administration, may not pay her. Currently there are 68 VB lines on sale on the website. The source said: 'Matches is continuing to sell designer clothing online, and has promised to pay for it all. But some brands, like VB, have insisted on getting the stock back so they can sell it themselves. Not everyone is convinced Mike Ashley's outfit - and the administrators - will pay up.'

The Magpies have agreed an exclusive deal with JD Sports that will see their jerseys sold in only their stores and the official club shop. Ashley was in charge of Newcastle between 2007 and 2021 before selling it to the Saudi Arabian Public Investment Fund for £305million. He received widespread criticism for his work as owner of the club, with the north east outfit now flourishing on-the-field having qualified for the Champions League this season under new manager Eddie Howe.

Mike Ashley's Frasers and Lord Wolfson's Next - two of the biggest names on the High Street - are said to be considering saving Ted Baker's European business. Ashley's retail empire has snapped up toy-maker Hornby and luxury marketplace Matches Fashion in recent months - although the latter later collapsed. Next owns the likes of Jack Wills and Victoria's Secret.

In the first half, sales dropped by almost a fifth, as the struggling online chain ramped-up discounts continued to lower stock levels. ASOS, which is clearing stock as it shifts to a new operating model from next year, saw sales decrease by around 18 percent in the six months to March, less than market estimates of a 13.5 percent decline. Despite the sales decrease, Asos shares increased by 5.6 percent to 365.4 percent as the retailer retained year-long estimates for the year. The London-listed company blamed the downturn on reform plans, having cut its stock in-take by around 30% year on year to 'right size' stock levels. However, the fashion chain reported a 10% decrease in revenue to £3.55 billion in November as a result of cost-of-living pressures, which culminated in the firm's young customer base's cutback on clothing purchases. FEMAIL reveals where ASOS is going wrong for its millennial clients and SHEIN's competition.

AO World's internet store has updated its profit forecast as a result of 'clear growth' over the past year. On Thursday, AO World shares increased by 15.86 percent or 14.25 percent to 104.10p, having increased by more than 61% in the last year. It's the most recent update after improving its profit outlook in November last year as its cost-cutting initiatives continue to bear fruit.

The 59-year-old tycoon has gone to war against the club he once owned, alleging that they have unfairly cut out Sports Direct in favour of their high street rivals JD Sports over the right to sell Newcastle shirts next season. This morning, Ashley, who wore a replica Newcastle shirt himself on match days during his time as a coach, lodged a £1.53 million complaint at the Competition Appeal Tribunal. According to Sports Direct, the club has 'abused its dominant position in the market' by refusing to offer the latest Adidas kits for the 2024-25 season.

Headline inflation, which excludes energy and food, is down, core prices (which exclude electricity and food) are decreasing, service sector costs are on decline, and some fresh food prices are declining. All of this before the Bank of England's financial squeeze had enough time to function. There could not be a better time for the Bank of England to get up to the game than today.

When his shopping empire continues to grow, Mike Ashley has agreed to serve as a consultant to model train manufacturer Hornby. Last month, Ashley's Frasers Group extended its interest in Hornby to 8.9% as part of a broader series of strategic investments that have seen it rise to prominence in Boohoo, Currys, and Asos.

Bruce led the Magpies to safety for two years, but they were fired in October 2021, just one game after the club's controversial £305 million takeover. Amanda Staveley, the co-owner, accused him of not wanting to work during his final days, but she has apologised. He seems to be keen to work, as he also gave an update on his future, indicating his commitment to a foreign work.

Matches Fashion, a luxury brand that sells Gucci and Prada, has been put into administration by former owner Frasers Group, which is owned by multi-billionaire Mike Ashley. The change, less than three months after Frasers bought the business for £52 million, has left shoppers in the lurch. Mr Ashley's Frasers Group declined to assist Matchees this weekend. Thousands of pounds out of pocket for some shoppers who have splashed out on designer wares, many of which sell for four figures, are thousands of pounds out of pocket. They are unable to return expensive clothes or get their money back.

As Chancellor Jeremy Hunt's attempts to convince Shein to list its shares in the United Kingdom, the spotlight is shifting to the world of fast fashion. Shein's ability in the UK market is needed. The brouhaha surrounding the IPO may help to raise the profile of unloved shares in major companies. However, the opposite could occur if advisors fail to investigate Shein's credentials. You may not be a good follower of fashion trends in quick or some other form of clothing. But this is certainly one to watch.

When her Saudi-backed alliance took over Newcastle United, Amanda Staveley said Steve Bruce didn't even want to come into work.' PCP Capital, Jamie Reuben-led RB Sports & Media, and Saudi Arabia's public wealth fund, the Public Wealth Fund (PIF), purchased the club from Sports Direct chief executive Mike Ashley in October 2021. Newcastle were quick to make changes under their new owners, with Bruce's sacking, one of their first orders of business, who had been in possession of the Magpies since July 19.

Amanda Staveley, a Newcastle co-owner, has confirmed that a Saudi Arabian team will play in the Champions League in the near future. In 2021, Staveley was part of a Saudi-backed consortium's turbulent takeover of the Premier League side. In October 2021, the new owner, Staveley's PCP Capital, Jamie Reuben-led RB Sports & Media, and Saudi Arabia's public wealth fund, the Public Investment Fund (PIF), purchased the club from Sports Direct chief executive Mike Ashley in Staveley.

Mike Ashley's retail empire, owner of Flannels, Sports Direct, and Evans Cycles, bought the clothing website in December from private equity company Apax Partners. Frasers said the acquisition would help develop its online strategy, which includes more investment in online services, targeting more discerning customers, and raising its luxury retail offering.

Frasers, which also owns Evans Cycles, have less than £10 million to break it down. Last October, Wiggle, which was established in 1991, fell into administration. It is headquartered in Portsmouth and has a distribution center in Wolverhampton. Following the lockdowns, administrators predicted a downturn. In its most recent financial year, Wiggle saw profits of more than £200 million, but ultimately lost to a £75 million loss on the bottom line.

Newcastle's Lloyd Kelly is undergoing a summer contract, and the man who is going forward with talks may be preparing for a new role at the club. Steve Nickson is the current head of recruitment, but we know he will be considered for a redrawn sporting director/director of football following Dan Ashworth's departure. After the club's new ownership took over in 2021, it was expected that the former school teacher would be shown the door by the club's new ownership. Joelinton, who was a misfiring forward during the Mike Ashley period, was overseeing the £40 million club-record signing.

The internet retail giant entered the Dow Jones Industrial Average on Tuesday, seeing its shares climb 15% so far this year, bringing the overall increase to 90% this decade. However, they barely recovered yesterday, inching down by 0.3 percent. The Dow Jones Industrial Average is home to 30 major American companies, including Nike, Walmart, Coca-Cola, and IBM. Wals Boots Alliance is taking its place alongside Amazon in the event of a merger.

According to the Government-backed FTSE Women Leaders Study, the percentage of boardroom jobs held by women in the FTSE 350 increased by two percentage points last year to 42.1%. When the first issue was first published in 2017, there have been 24.55 percent rises from the 24.5% reported. Liv Garfield (pictured), the manager of water company Severn Trent and who started the role almost a decade ago, is the longest-serving female CEO. Allison Kirkby, BT's chief, has been the most recent addition to the company, having taken over as CEO last month.

Guinness World Records revealed ten new awards for the country this week, a decision that has been criticized by human rights organisations. Although statistics are generally interesting and unique, such as the longest beard on a living female and the most consecutive visits to Disneyland, Saudi Arabia's achievements are dull in comparison. The 'largest covered water reservoir for storing drinking water,' the'most comprehensive multi-effect distillation unit,' and the 'largest dental hospital were among the winners.' Out of the 223 awards that list Saudi Arabia as the location of the contest, 88 are standard applications or researched, while 135 are as a result of paid consultations, according to GWR.

Frasers, which also owns Sport Direct, has stakes in boohoo, Currys, and Asos, has increased its ownership interest in Hornby, where Frasers-owned GAME stores are now stocking 8.9 percent to 8.9 percent as of Friday's announcement. Hornby's collection of unique heritage brands is also included in GAME's product range, and we're looking forward to seeing how we can use our scale in retail logistics and distribution. Frasers Chief Financial Officer Chris Wootton said, 'This is in accordance with our overall strategy of pursuing strategic objectives to raise value for all stakeholders.'

Frasers Group, a company that is owned by Ashley (pictured) and owns brands such as Sports Direct and House of Fraser, has taken the US investment bank to court over its interest in Hugo Boss, a fashion brand. Frasers accused Morgan Stanley of making a "capricious" and ineffective move to exclude its customers from the bank's books in May 2021 after displaying a 'personal dislike' to Ashley based on 'class.'

Elliott Advisors, a US hedge fund, had rejected a £700 million takeover bid from the electrical retailer late last week. In the meantime, JD.com, the Chinese internet retail giant, said it was 'in the very early stages' of weighing up a bid. It could be the start of a slew of takeover bids for retail businesses whose low valuations make them seem as though they were bargains, according to Peel Hunt's analysts.