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Fat bloke finance..


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Look at the margins mass retail work on - sub 10%. You have to have your logitics full automated and working smoothly. This is why the likes of Waitrose and MnS are getting their arses serve

He makes out that he didn't do his homework when buying house of Fraser.  Seems doubtful albeit he always seemed on a mission to gobble up everything. JD sports which I always compare with, seems

I think Spy's right that Ashley doesn't think.  He's been successful with a policy of expansion and was just doing more of what has worked in the past by buying HoF and trying to buy Debenhams; but no

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Bear Hug
On 28/07/2019 at 08:40, spygirl said:

Are you the Reading bearhug from Tos?

I am and now I know how to embed a video!

33 minutes ago, spygirl said:

Grant thornton quit as SD auditor.

It's not going to be pretty tomorrow.  Although I thought the same for today but it wasn't that bad. 

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spygirl

Thisll be fun.

https://www.ft.com/content/74d96c4c-bdeb-11e9-b350-db00d509634e

Sports Direct has asked the UK government to clarify how it might act if the troubled retailer becomes the first major listed business to fail to appoint an auditor.

Grant Thornton, which has audited Sports Direct since it floated on the London Stock Exchange in 2007, has told regulators that it intends to quit after the retailer’s annual meeting of shareholders in September.

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spygirl



Mazars, another small firm, approached Sports Direct about becoming its next auditor but with a number of conditions about governance. Sports Direct said in its annual results that it did not believe a firm outside of the Big Four would be able to “cope” with its audit in the future due to an increase in its size and complexity.

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spygirl

He said Ashley “likes to make punchy statements and then it’s up to me to figure out what that actually means”.

Jesus jesus jesus.

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spygirl



Mr Murray’s influence is all the more remarkable given that he is not formally on the company’s payroll, let alone its board. The son of a Doncaster property developer, who ran nightclubs before he met his partner, Mr Ashley’s daughter, he is instead employed on a consultancy arrangement with Sports Direct through which he was paid £5.2m last year.

Have any SD share holder read that?

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Bear Hug
33 minutes ago, spygirl said:



Mr Murray’s influence is all the more remarkable given that he is not formally on the company’s payroll, let alone its board. The son of a Doncaster property developer, who ran nightclubs before he met his partner, Mr Ashley’s daughter, he is instead employed on a consultancy arrangement with Sports Direct through which he was paid £5.2m last year.

Have any SD share holder read that?

Probably still holding up because MA has over 60% of it. Could he just buy the rest of it? Main losers would be the buyers at ipo. 

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spygirl

And the farce that is the Mike Ashley circus rolls on.

https://www.bbc.co.uk/news/business-49548986

A deal that saved Debenhams from administration will be challenged in the High Court this week, putting the retailer's future back into doubt.

A commercial landlord - backed by Mike Ashley's Sports Direct group - is fighting the plan which saw Debenhams agree to shut 50 stores and secure rent cuts on others in May.

If successful, it could lead Debenhams to fall back into administration.

The retailer said it was "extremely confident" the action would fail.

Earlier this year, Debenhams fell into the hands of its lenders as part of an administration process, wiping out Mr Ashley's near-30% stake in the company.

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spygirl

They need to stop using 'billionaire' when discussing Ashley.

How about 'rapidly getting poorer fat idiot who got lucky once during Browns credit boom'

 

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spygirl

Lord Cunt wesaels 'crown jewels' has posted a 500m loss.

Whod have thought leveraging up, taking 1bln out, then not investing in logistic /websales would have such an effect?

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spygirl

Jesus

https://www.bbc.co.uk/news/business-50047230

Mike Ashley's Sports Direct has called for an investigation into the sportswear industry, complaining about the dominance of Adidas and Nike.

The firm said the "must-have" brands hold a bargaining position which allows them to control both the supply and the price of their products.

Adidas has blocked the company from selling some of its products, Sports Direct said in a statement.

It follows reports that Nike is ending supply deals with several retailers.

 

Your shop is shit.

Youve turned mid range brands into cheap copies.

 

Mr Ashley's grievance stretches as far back as 2013 when the German giant withdrew replica Chelsea shirts from Sports Direct stores. The retailer said the dominance of Nike and Adidas allows them to "[refuse] to supply key products... with no apparent justification".

Nike n Adidas should respind with their reason - Ashley is a fat cunt.

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Bear Hug
18 minutes ago, spygirl said:

Jesus

https://www.bbc.co.uk/news/business-50047230

Mike Ashley's Sports Direct has called for an investigation into the sportswear industry, complaining about the dominance of Adidas and Nike.

The firm said the "must-have" brands hold a bargaining position which allows them to control both the supply and the price of their products.

Adidas has blocked the company from selling some of its products, Sports Direct said in a statement.

It follows reports that Nike is ending supply deals with several retailers.

 

Your shop is shit.

Youve turned mid range brands into cheap copies.

 

Mr Ashley's grievance stretches as far back as 2013 when the German giant withdrew replica Chelsea shirts from Sports Direct stores. The retailer said the dominance of Nike and Adidas allows them to "[refuse] to supply key products... with no apparent justification".

Nike n Adidas should respind with their reason - Ashley is a fat cunt.

I do buy stuff there sometimes because the range is quite wide, and I don't care that much what I am wearing to the gym but everything seems to be of mediocre quality. The brands are absolutely right, once something is in sports direct, I fully expect it to be of primark quality but with a famous logo. 

I am not a massive fan of advertising brands but there just isn't a quality option for many product lines in SD shops. I'd prefer seeing three products, SD value, normal and premium to trying to work out which brands they have already turned to shit and which brands are in the process of being turned to shit.

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spygirl
4 minutes ago, Bear Hug said:

I do buy stuff there sometimes because the range is quite wide, and I don't care that much what I am wearing to the gym but everything seems to be of mediocre quality. The brands are absolutely right, once something is in sports direct, I fully expect it to be of primark quality but with a famous logo. 

I am not a massive fan of advertising brands but there just isn't a quality option for many product lines in SD shops. I'd prefer seeing three products, SD value, normal and premium to trying to work out which brands they have already turned to shit and which brands are in the process of being turned to shit.

I buy kids stuff. Thats ok, as they outgrow stuff.

I tried a pair of those off road trainers. They did not last.

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crashmonitor
On 28/07/2019 at 09:11, Dogtania said:

He makes out that he didn't do his homework when buying house of Fraser.  Seems doubtful albeit he always seemed on a mission to gobble up everything.

I went into a House of Fraser yesterday for curiosity value and it was like the Marie Celeste...well it would have been but for the staff standing around waiting for something to happen. Reminded me a bit of the last days of BHS. I do have a bit of nostslgia for these Department stores though.

The brand used to be quite upmarket flagshipped by Harrods. I wonder what their current customers will make of this, a google hoodie for £215. 

An essential stocking filler for Lady Forbes- Hamilton perhaps...

 

20191025_140000.thumb.jpg.30552f40985235d3f08d8c22006257bf.jpg

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spygirl

https://www.ft.com/content/e4968f14-1751-11ea-8d73-6303645ac406

and fat bloke bankers



A banker who lost a £15m court battle that hinged on a boozy pub conversation with UK retail tycoon Mike Ashley has now turned his fire on the high-profile law firm that represented him.

Jeffrey Blue, a corporate financier who used to work for Merrill Lynch, is suing Mishcon de Reya for alleged negligence, arguing that the law firm failed to obtain both sufficient funds for his costly fight with the billionaire retailer, and enough insurance in the event he lost.

The legal action comes more than two years after Mr Blue failed to convince a High Court judge that a promise Mr Ashley allegedly made in a London pub in 2013 to pay him £15m if he doubled the share price of the retailer’s company was legally binding.

The case, which saw Mr Blue’s barrister question Mr Ashley on his drinking habits, was dismissed by Mr Justice Leggatt, who said “no reasonable person present” would have thought that the offer made in the Horse and Groom pub was “serious”.

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spygirl

https://www.bbc.co.uk/news/business-52011915

Sports Direct has said it will keep its stores open, despite new curbs aimed at limiting the spread of the coronavirus.

Under new measures announced by Prime Minister Boris Johnson, all UK shops selling non-essential goods have been ordered to close immediately.

Among those staying open are petrol stations, supermarkets and pharmacies.

But Sports Direct said it would remain open "where possible" as it was "uniquely well placed to help keep the UK as fit and healthy as possible".

Arguing that it provided an essential service, bosses at the company said the sports equipment it sells can be used to exercise at home at a time when gyms have been closed.

In a letter written by Frasers Group, which owns Sports Direct and Evans Cycles, finance chief Chris Wootton said: "Thus our Sports Direct and Evans Cycles stores will remain open where possible to allow us to do this (in accordance with the government's current social distancing guidance)."

 

So, is Mike Ashley a fuckign moron - as itll be his decision.

Has he got some insane, undisclosed financial device or debt, somewhere, thatll blow up?

 

 

 

 

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ILikeCake
16 minutes ago, spygirl said:

https://www.bbc.co.uk/news/business-52011915

Sports Direct has said it will keep its stores open, despite new curbs aimed at limiting the spread of the coronavirus.

Under new measures announced by Prime Minister Boris Johnson, all UK shops selling non-essential goods have been ordered to close immediately.

Among those staying open are petrol stations, supermarkets and pharmacies.

But Sports Direct said it would remain open "where possible" as it was "uniquely well placed to help keep the UK as fit and healthy as possible".

Arguing that it provided an essential service, bosses at the company said the sports equipment it sells can be used to exercise at home at a time when gyms have been closed.

In a letter written by Frasers Group, which owns Sports Direct and Evans Cycles, finance chief Chris Wootton said: "Thus our Sports Direct and Evans Cycles stores will remain open where possible to allow us to do this (in accordance with the government's current social distancing guidance)."

 

So, is Mike Ashley a fuckign moron - as itll be his decision.

Has he got some insane, undisclosed financial device or debt, somewhere, thatll blow up?

 

 

 

 

Am I missing something?  He's still got to pay his staff if he stays open.  Who is going to get up this morning and think I know I'm off to Sports Direct to buy some cheap sports wear?  Surely if he closes he can claim some of that freshly printed money back from the government?

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spygirl
3 minutes ago, ILikeCake said:

Am I missing something?  He's still got to pay his staff if he stays open.  Who is going to get up this morning and think I know I'm off to Sports Direct to buy some cheap sports wear?  Surely if he closes he can claim some of that freshly printed money back from the government?

No longer opening.

Someones had a very strong word.

It just goes to show waht a shower of total loons are working with him, nomrally related ....

 

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reformed nice guy
3 hours ago, ILikeCake said:

Am I missing something?  He's still got to pay his staff if he stays open.  Who is going to get up this morning and think I know I'm off to Sports Direct to buy some cheap sports wear?  Surely if he closes he can claim some of that freshly printed money back from the government?

I have been looking at the scheme. I dont think employees with zero hours contracts can claim. Has any one else been able to confirm?

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longtomsilver
On 24/03/2020 at 11:27, reformed nice guy said:

I have been looking at the scheme. I dont think employees with zero hours contracts can claim. Has any one else been able to confirm?

I'm on a Wetherspoons chat group and we are being paid our contracted minimum hours, in my case 7 while I normally do 16-18 and at 80% so I'll be *out of pocket by ~£63p/week. 

You could well be right.

*fully offset by the amount of fuel I'm not putting in my car.

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