The Direct approach: why ailing UK retailers are turning to Mike Ashley

The clothing tycoon is one of the few players still willing to invest in the high street as Britain’s shoppers desert it

Mike Ashley, the high street’s most voracious corporate shopper, underlined his power over British retail last week when he was allowed to peruse the books of a long-coveted target: Debenhams.

As the 54-year-old entrepreneur scrutinised the struggling chain’s finances, he also managed a tilt at two failed retailers over the past fortnight. HMV was ultimately sold to a Canadian entrepreneur and Patisserie Valerie went to a management buyout, despite a blink-and-you’ll-miss-it proposal from Ashley.

Sports Direct UK
The main unit in the Sports Direct group – its UK business - comprises more than 480 stores including Sports Direct, the Lillywhites department store, 38 USC streetwear stores and 30 gyms. Sales were steady at £2.18bn in the latest financial year, as the group closed about 13 sports stores in the UK and seven USC outlets. The company traded well during the World Cup but is suffering amid a general slowdown in high street spending.

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from Mergers and acquisitions | The Guardian http://bit.ly/2SG8eRY