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Mike Ashley swoops for distressed organisation close to administration

House of Fraser.

Comments

  • Like their soap and towels... well done Mike
  • Bet Newcastle fans are chuffed...didnt want to spend and now hes bought 90million worth of failing business
  • Will likely expand Debenhams as I’m sure he is involved with them? Wise move buying up competition
  • But has he got the funds?
  • Who paying The Grace Brothers their £7m?
  • Not an obvious correlation between the "pile em high sell em cheap" ethos of Sports Direct, and House of Fraser which sells expensive and exclusive products to well heeled shoppers...

    And does the UK need more Sports Direct shops if that is his intention?
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  • JohnBoyUK said:

    Oh to dream of spending £17m in a transfer window FFS...

    To be fair they did bring in £45m in sales as well!
  • JohnBoyUK said:

    Oh to dream of spending £1 in a transfer window FFS...

  • so he gets a nationwide major high street chain, albeit a bit tatty and aging, for the price of a decent midfielder and striker .. let's hope that he can save the 1,000s of jobs that are presently at risk

    to be fair to MA the jobs would be more at risk if he hadnt bought HOF
  • lolwray said:

    so he gets a nationwide major high street chain, albeit a bit tatty and aging, for the price of a decent midfielder and striker .. let's hope that he can save the 1,000s of jobs that are presently at risk

    to be fair to MA the jobs would be more at risk if he hadnt bought HOF
    that's what my post meant ..
  • He could have bought us for half of that, then spent the other half on new players, then sat back and enjoyed the entertainment with the rest of us :smiley:
  • Will likely expand Debenhams as I’m sure he is involved with them? Wise move buying up competition

    Has already bought up a 30% stake in Debenhams after previously failing to buy them outright. I suspect that he'll keep buying until he's got at least a 51% stake, then there'll be some sort of merger. Prime sites in both chains kept, losers turned into flats or hotels.
  • Stig said:

    Will likely expand Debenhams as I’m sure he is involved with them? Wise move buying up competition

    Has already bought up a 30% stake in Debenhams after previously failing to buy them outright. I suspect that he'll keep buying until he's got at least a 51% stake, then there'll be some sort of merger. Prime sites in both chains kept, losers turned into flats or hotels.
    Most of their sites are leased so any redevelopment will be potential profit for the freeholders.

    I'm really not sure there is demand for the old fashioned department store anymore - especially at the Debenhams/HoF end of the market. Maybe one in each major city but that's about it.

    Marks & Spencer are struggling, as are to a lesser extent John Lewis - both being shored up by their food product. Even the top end with the likes of Harvey Nics and Selfridges have had better days.

    High Street retail is going through terminal decline.
  • bobmunro said:

    Stig said:

    Will likely expand Debenhams as I’m sure he is involved with them? Wise move buying up competition

    Has already bought up a 30% stake in Debenhams after previously failing to buy them outright. I suspect that he'll keep buying until he's got at least a 51% stake, then there'll be some sort of merger. Prime sites in both chains kept, losers turned into flats or hotels.
    Most of their sites are leased so any redevelopment will be potential profit for the freeholders.

    I'm really not sure there is demand for the old fashioned department store anymore - especially at the Debenhams/HoF end of the market. Maybe one in each major city but that's about it.

    Marks & Spencer are struggling, as are to a lesser extent John Lewis - both being shored up by their food product. Even the top end with the likes of Harvey Nics and Selfridges have had better days.

    High Street retail is going through terminal decline.
    I'm not sure about that either, but Ashley has bought a fair chunk of of the market at knockdown prices recently. I've no doubts that he knows more about the retail business than me, but to my eyes it looks risky given recent trends.
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