Ashley buys Jack Wills


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Ashley buys Jack Wills
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omenator Offline

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Ashley buys Jack Wills

Sports Direct and Newcastle United owner Mike Ashley has bought struggling clothing brand Jack Wills.

The fashion chain revealed it was struggling when it brought in accountancy firm KPMG to look at its future options last month.

Mr Ashley was understood to have been a early favourite to acquire the clothing brand from a pre-pack administration.

And on Monday afternoon, KPMG confirmed Jack Wills has now been sold to Sports Direct.

Mr Ashley's purchase of the fashion chain out of administration is a strategy he has used in the past, most recently when he purchased House of Fraser.

Mr Ashley ultimately won the bidding war for the department store chain against billionaire Philip Day, acquiring the company for £90m and promising to keep 80% of its stores open.

Following the release of Sports Direct's financial accounts , Mr Ashley described House of Fraser's situation as "terminal" and said it was inevitable that he would have to close more stores.

However, he did claim that he might be able to save the business.
5th August 2019 06:00 PM
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huntface Offline

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Post: #2
RE: Ashley buys Jack Wills

Where does he play?
5th August 2019 06:53 PM
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Surreymag Offline

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Post: #3
RE: Ashley buys Jack Wills

It will be a loan deal bit like all his business dealings including NUFC.
6th August 2019 06:13 AM
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tino Offline

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Post: #4
RE: Ashley buys Jack Wills

Just another brand to avoid
6th August 2019 11:53 AM
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