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EXPLAINED: 3 | Vintage Vibes

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

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

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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

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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

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 Guardian - 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 Independent 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

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

The Guardian - UK

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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

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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

Cycling Weekly

Would a Mike Ashley takeover of Wiggle be a ‘concern to the cycle industry’ or a ‘careful bit of business’? - Insiders weigh in as redundancies lead to trade brain drain

Struggling retailer has now axed nearly every member of staff after going into administration last year

Evening Standard

Full steam ahead for Hornby shares as Frasers makes model investment

Retailer snapped up 11.1 million shares, lifting its total holding to 8.9%

The Guardian - UK

Mike Ashley victim of ‘abuse’ by US bank Morgan Stanley, high court hears

Frasers Group suing over $900m cash demand linked to bets placed on shares in German retailer Hugo Boss

The Guardian - UK

Frasers Group warns of ‘softening’ in global luxury market as sales fall

Cost of living crisis partly responsible but total sales at Mike Ashley’s company rise

Evening Standard

Retail titans are going on a canny shopping spree

If current trends continue there will be two titans fighting over the scraps of fashion retail: Simon Wolfson and Mike Ashley.

The Guardian - UK

House of Fraser owner could close more big shops as department store model ‘broken’

Group says pre-tax profits almost doubled to £660m as Sports Direct improved margins

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