Construction on that development started in 1980 and was completed in 1983. The stock market purchase of 56.8 million shares (worth around £46m) was made without the prior knowledge of the Debenhams board. “The transaction complements the existing gym and fitness club portfolio within the company’s group and is consistent with the group’s elevation strategy,” the company said. Established in 1982 by Mike Ashley, the company is the United Kingdom's largest sports-goods retailer and operates roughly 670 stores worldwide. The sale is due to be completed by May 2017. - Retail Gazette", "Mike Ashley's Frasers Group in talks to buy collapsed Debenhams", "Debenhams gift cards expire as Mike Ashley considers empty stores", Major European expansion for Sports Direct, "Mike Ashley's Frasers Group snaps up stake in luxury brand Mulberry", "Sports Direct sells Dunlop for $137m | Business", "Ashley sells Original Shoe Company to JJB", Henderson Smaller Companies Investment Trust, JPMorgan Emerging Markets Investment Trust, JPMorgan European Smaller Companies Trust, Sequoia Economic Infrastructure Income Fund, Templeton Emerging Markets Investment Trust, https://en.wikipedia.org/w/index.php?title=Frasers_Group&oldid=999978630, Sporting goods retailers of the United Kingdom, Companies listed on the London Stock Exchange, Articles with dead external links from October 2010, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License, This page was last edited on 12 January 2021, at 22:34. , Late in December 2015 Sports Direct announced a 15 pence per hour increase for staff currently receiving less than minimum wage, taking them above minimum wage, the annual cost of this was said in the announcement to be ~£10 Million (GBP); however it was immediately noted that £0.15p × 37.5 hours × 19,000 staff × 52 weeks = 5,557,500 (~£5.5 million), this and other factors resulted in many (including Unite) calling it a "PR Stunt". The Frasers sites will … Sports Direct stated at the time it intended to be a supportive share holder. Total job losses could reach 3,000. , In October 2015, the chief executive of Sports Direct, David Forsey, was charged with a criminal offence for consultation failures over USC staff who only had 15 minutes notice of redundancy.  The Lillywhites chain of 10 stores and the Lonsdale brand were acquired in 2002 and by 2003, the number of retail stores had increased to 150. Later that day, Sports Direct agreed to buy all House of Fraser UK stores, the House of Fraser brand, and all of the stock in the business for £90 million in cash. Underlying pre-tax profits for the group fell by 18% to £117.4m in the year to 26 April. foot unit in Dunstable. TM Lewin – 600 jobs30 June: Shirtmaker TM Lewin closed all 66 of its outlets permanently, with the loss of about 600 jobs.  In December 2015, an investigation by The Guardian found that the company fines staff for late clocking on, does not award overtime for late clocking off, relies on zero hour contracts, and regularly makes staff wait unpaid for a security check at the end of shifts. Sports Direct says it intends to run the DW business under its Everlast brand.  On 13 January 2014, Sports Direct bought 4.6% of Debenhams shares. Ted Baker – 500 jobs19 July: About 200 roles to go at the fashion retailer’s London headquarters, the Ugly Brown Building, and the remainder at stores. Dixons Carphone – 800 jobs4 August: Electronics retailer Dixons Carphone is cutting 800 managers in its stores as it continues to reduce costs.  As of March 2017, some Sports Direct workers are yet to receive backpay for their time worked, because of a disagreement regarding how contracts changing between employment agencies should be handled. DW’s Fitness First Clubs have been unaffected by the administration and the subsequent sale. The company said multiple offers were on the table for parts of the business but buyers did not want to acquire all the existing sites and 91 of its 250 outlets would remain permanently closed.  In November 2016, six MPs from the Business and Skills Committee visited Sports Direct, and reported that while there, Sports Direct attempted to place them under surveillance. Laura Ashley – 2,700 jobs17 March: Laura Ashley collapsed into administration, with 2,700 job losses, and said rescue talks had been thwarted by the pandemic. - Retail Gazette", "Shoplifting in Retail Clothing Outlets:", "Flotation makes Sports Direct founder a billionaire", "Ashley sells £106m in Sports Direct shares", "Revealed UK's first sports kit billionaire", "Personal finance – How to grow your wealth and spend less money", "Billionaire sports tycoon plots move into Matalan", "Sports Direct's Ashley rebuilds Amer stake", "The JJB stores Sports Direct has bought", "Sports Direct thrashes out deal to buy 60 JJB Sports stores", "Sold JJB Sports stores inundated with shoppers", "Republic fashion chain bought by Sports Direct", "2,000 Sports Direct staff to receive £100,000 bonus after record profits", "Sports Direct buys 4.6% Debenhams stake", "Sports Direct nets 5% stake in Debenhams", "Sports Direct takes option on Debenhams stake", "Pension expert call for scrutiny over Sports Direct sale of Dunlop", "Sports Direct buys 26% stake in Game Digital | Business", "Ambulances called to Sports Direct HQ more than 80 times in two years", "Sports Direct chief executive charged over USC administration", "Company directors face criminal charges over redundancies", "Revealed: how Sports Direct effectively pays below minimum wage", "Sports Direct denies 'Dickensian practices' in face of investor revolt", "Sports Direct's Mike Ashley promises £10m to pay staff above minimum wage", "Sports Direct accused of yet another 'PR stunt' to distract from 'Victorian' work practices", "Sports Direct's Mike Ashley agrees to pay staff national minimum wage from 2016", "Sports Direct warehouse workers to receive back pay", "Sports Direct 'to back-pay Derbyshire workers £1m, "Sports Direct workers paid less than minimum wage yet to get back pay | Business", "Sports Direct 'bugged' our visit to Shirebrook warehouse, say MPs", "Sports Direct hacked last year, and still hasn't told its staff of data breach", "Sports Direct will soon rebrand to Frasers Group", "Sports World International sales climb 45pc and knock JJB off top spot", "Game, set and match for Dunlop Slazenger", "Ashley slips Karrimor brand in his rucksack", "Sports World owner sees right fit for Kangol hats", "Sports World tycoon mulls bid for Umbro", "Commission Decision No. The overall deal, which excludes the DW business names and intellectual property, could be boosted by a further £6.9m, depending on how many of the property lease holdings Frasers Group acquires. Whitbread - 6,000 jobs22 September: Whitbread, which owns the Premier Inn, Beefeater and Brewers Fayre chains, said it would cut 6,000 jobs at its hotels and restaurants, almost one in five of its workforce. Arcadia – 500 jobs1 July: Arcadia, Sir Philip Green’s troubled fashion group – which owns Topshop, Miss Selfridge, Dorothy Perkins, Burton, Evans and Wallis – said in July 500 head office jobs out of 2,500 would go in the coming weeks. Mike Ashley's Frasers Group has confirmed it is considering buying Arcadia …  A representative from the charity ShareAction claimed that workers are "jeopardising their health" for fear of being dismissed while another shareholder said the company's reputation as an employer was "atrocious". , From January 2013 to December 2014, 76 ambulances or paramedic cars were sent to the postcode for Sports Direct's distribution centre, according to a Freedom of Information request by the BBC. NEWCASTLE United owner Mike Ashley’s Frasers Group has issued a profit warning. The Newcastle United owner's retail empire has bought some of its former rival's gym and fitness assets out of administration. , Austrian sports chain in a 51% stake was acquired for €40.5m (£34.6m) in May 2013. Frasers said it … Frasers Group acquires Psyche. , The group has over 470 UK stores including the chains Sports Direct (Sports World prior to 2008), Lillywhites, House of Fraser, Flannels, Evans Cycles, Sofa.com, Field & Trek and USC. DW Group, founded by the former Wigan Athletic owner Dave Whelan, fell into administration last month, putting 1,700 jobs at risk, and Monday’s deal safeguards 922 of those. Harveys – 240 jobs30 June: Administrators made 240 redundancies at the furniture chain Harveys, with more than 1,300 jobs at risk if a buyer cannot be found. It came as Frasers Group, which also owns Flannels, Evans Cycles, Jack Wills and House of Fraser, said strong online sales and a boost since the first lockdown ended had increased its profits in the last six-month period. Prior to the company entering administration, Sports Direct's Mike Ashley held an 11% stake in the company. Along with the group name change, Ashley is preparing to turn up to seven of House of Fraser’s 50-plus stores into a new luxury mini-chain to be called Frasers. SSP Group – 5,000 jobs1 July: The owner of Upper Crust and Caffè Ritazza is to axe 5,000 jobs, about half of its workforce, with cuts at its head office and across its UK operations after the pandemic stalled domestic and international travel. The company that would later be known as Frasers Property was incorporated in 1963 as Cold Storage Limited, a market and retail chain.  In May 2007, it was also revealed that Ashley had held talks with John Hargreaves, founder of Matalan on both taking a 25% stake in the troubled retail business and installing mezzanine floors in larger Matalan stores, on which SportsDirect.com outlets could be operated. The company was founded by Mike Ashley in 1982 as a single store in Maidenhead trading under the name of "Mike Ashley Sports". After looking at a takeover, Sports Direct took a £9 million stake and signed a lucrative long-term deal in August 2005 with troubled brand Umbro, which was subsequently sold to Nike. But Frasers Group has been a rare bright spot, forecasting growth despite COVID-19. Sales at its core sports business decreased 14.6%, but edged up 0.7% including the contribution from the digital gaming group Game, which is now part of that division. Casual Dining Group – 1,900 jobs2 July: The owner of the Bella Italia, Café Rouge and Las Iguanas restaurant chains collapsed into administration, with the immediate loss of 1,900 jobs. Oasis and Warehouse – 1,800 jobs30 April: The fashion brands were bought out of administration by the restructuring firm Hilco in April, with all of their stores permanently closed and 1,800 jobs lost. “Frasers Group looks forward to elevating the gym and fitness assets acquired … under the group’s existing Everlast brand.”. , In July 2008, it was disclosed that Sports Direct also held a 12.3% holding in the John David Group, parent of JD Sports. Pret a Manger – 1,000 jobs6 July: Pret a Manger is to permanently close 30 branches and could cut at least 1,000 jobs after suffering “significant operating losses” as a result of the Covid-19 lockdown. , On 30 October 2018, Evans Cycles was purchased by Sports Direct in a pre-pack administration deal.  In 2006 he acquired Kangol for an estimated £12 million. , In December 2006, it was revealed that Sports Direct had built up a 29.4% stake in Blacks Leisure Group, the owner of Millets.  In 1984, Preston Sports shop was opened in London and by 1992 the company had 12 stores. The deal includes the company’s gym and fitness business as well as some stock, but excludes the Dave Whelan business names and intellectual property. therefore the 19,000 staff above is actually substantially fewer. The uplift was largely driven by strong trading in its stores after lockdown, growth in online sales, new Flannels stores and continued operating efficiencies. In 2006 it overtook JJB Sports as the UK's largest sportswear retailer. , On 5 August 2019, Sports Direct purchased Jack Wills out of administration for £12.7 million after winning a competition against Edinburgh Woollen Mill.  Most of these brands were bought from distressed sellers. Boots – 4,000 jobs9 July: Boots is cutting 4,000 jobs – or 7% of its workforce – by closing 48 opticians outlets and reducing staff at its head office in Nottingham as well as some management and customer service roles in stores. In the early 1980s, the firm began divesting its non-property assets. Mike Ashley’s Frasers Group Plc is in last-ditch talks to buy the ailing Debenhams department store in a move which could save thousands of jobs. The deal saved around 550 jobs. He hired Merrill Lynch, who valued the group at up to £2.5bn ahead of a possible flotation on the London Stock Exchange. The Sports … , In August 2016, Sports Direct admitted breaking the law and will disburse unlawfully withheld wages totalling about £1m to the affected workers. Psyche owner Steve Cochrane, who has run the business for the past 38 years and will continue as CEO following the takeover, said the deal would secure the future of his company and its 58 workers. , In late November 2006, a number of business newspapers reported that Ashley was looking at an IPO of Sports World International. Frasers Group, which also owns Sports Direct, House of Fraser, Evans Cycles and Flannels, is to pay an initial cash consideration of £37m. 06-M-077/2016: Acquisition by Sumitomo Rubber Industries Ltd. of Shares in Dunlop Brands Limited, et al.  Other retailers owned by the company include Jack Wills, Flannels, USC, Lillywhites, Game, and Evans Cycles. The company has more than 14,000 employees. , On 24 August 2020, it was announced that Frasers Group would buy "certain" assets from DW Sports Fitness for £37m, but would not be using the firm's brand name. The owner of the Sports Direct brand confirmed it was in negotiations in an emailed statement and said “we hope to be able to save as many jobs as possible” at Debenhams, one of the UK’s most iconic retail brands. , The brands themselves are an increasingly important part of the business, and Sports Direct made £10 million, from selling the intellectual-property rights to the Slazenger Golf brand to arch-rival JJB in 2005.
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