Money: Billionaire tycoon Mike Ashley tables bid for jewellery chain Links of London ahead of possible showdown at Sports Direct AGM this week - PressFrom - United Kingdom
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MoneyBillionaire tycoon Mike Ashley tables bid for jewellery chain Links of London ahead of possible showdown at Sports Direct AGM this week

05:15  10 september  2019
05:15  10 september  2019 Source:   thisismoney.co.uk

Debenhams goes back into battle as Mike Ashley bankrolls landlord hoping to block its store closure plans at High Court this week

Debenhams goes back into battle as Mike Ashley bankrolls landlord hoping to block its store closure plans at High Court this week Debenhams goes back into battle as Mike Ashley bankrolls landlord hoping to block its store closure plans at High Court this week

Billionaire tycoon Mike Ashley tables bid for jewellery chain Links of London ahead of possible showdown at Sports Direct AGM this week . This week on This is Moneyball, Georgie Frost is joined by LawinSport's Sean Cottrell and the Associated Press' global sports correspondent Rob

Sports Direct 's Mike Ashley makes move for Links of London City AM14:04. Mike Ashley continues shopping spree with Links of London bid Sky News13 Billionaire tycoon Mike Ashley tables bid for jewellery chain Links of London ahead of possible showdown at Sports … This is Money15:32.

Billionaire tycoon Mike Ashley tables bid for jewellery chain Links of London ahead of possible showdown at Sports Direct AGM this week © Getty Newcastle United's English owner Mike Ashley

Mike Ashley, the high street tycoon behind Sports Direct, is hoping to add another struggling retail brand to his fast-growing portfolio, it has emerged. The acquisitive businessman, who also owns Newcastle Football Club, is reportedly one of two final bidders for troubled jewellery firm Links of London. The chain, best known for its charm bracelets, was recently put up for sale by its troubled Greek owner Folli Follie.

Billionaire tycoon Mike Ashley tables bid for jewellery chain Links of London ahead of possible showdown at Sports Direct AGM this week © Provided by Associated Newspapers Limited Mike Ashley (above) is reportedly one of two bidders in the race to buy Links of London

News of Sports Direct's interest in Links, first reported by Sky News, comes just days before the company's annual meeting (AGM) and a potential protest vote from investors against Ashley's position as chief executive. Sports Direct, in which Ashley is the majority shareholder, has suffered a string of embarrassments of late, including a shock £600million tax bill, the loss of its long-term auditor and the wiping out of its near-30 per cent stake in Debenhams.

Government poised to step in as Sports Direct struggles to find auditor

Government poised to step in as Sports Direct struggles to find auditor Government poised to step in as Sports Direct struggles to find auditor

Image: Sports Direct tycoon Mike Ashley 's purchases have included House of Fraser and Evans The high street tycoon Mike Ashley is continuing his unprecedented acquisition spree by tabling a bid to Image: Links of London was founded in 1990 and is currently owned by the Folli Follie Group.

Beautiful luxury British jewellery , watches, cufflinks and gifts. Shop iconic charm & friendship bracelets and enjoy our engraving service. Free UK Standard Delivery. Click & Collect available.

Its shares have fallen by nearly a third in the last year. Sky sources said Ashley would buy Links as part of his efforts to transform House of Fraser into 'the Harrods of the high street'. In addition to the firm's takeover of House of Fraser last August, Sports Direct has recently snapped up Jack Wills, Game Digital, Evans Cycles and Sofa.com. Prior to that, he also bought naughty knicker chain Agent Provocateur.

Billionaire tycoon Mike Ashley tables bid for jewellery chain Links of London ahead of possible showdown at Sports Direct AGM this week © Provided by Associated Newspapers Limited The high street hungry boss of Sports Direct recently bought Jack Wills and Sofa.com However, last month Ashley signalled regret at his acquisition of House of Fraser, claiming that the department store's problems 'are nothing short of terminal in nature'. He said that with 'the gift of hindsight we might have made a different decision in August 2018'. At the time of the takeover, Ashley vowed to keep as many stores open as possible with his plan to take the chain upmarket.

British Land mounts legal bid to derail Monsoon rescue

British Land mounts legal bid to derail Monsoon rescue The FTSE 100 property company British Land is pursuing a legal challenge against a rescue restructuring of Monsoon Accessorize, the latest in a series of battles between high street landlords and struggling retailers. © PA Shoppers walk past a Monsoon store on Oxford Street in London Sky News has learnt that British Land, which owns the Meadowhall shopping centre in Sheffield, filed a bid to block Monsoon's company voluntary arrangement (CVA) following its approval by creditors in July. Under the retailer's plans, rents would be cut by between 25% and 65% across just over half of its 258 stores across the UK.

This week Sports Direct 's chief executive, Dave Forsey, ratcheted up the battle with Adidas as he Forsey has said that Adidas is preventing Sports Direct from pursuing a bid for footwear retailer Shareholders will vote against re-election of board members at AGM after payout motion passes

Mike Ashley (C) owner of Newcastle United ahead of the Barclays Premier League match between Newcastle United and Southampton. The bargain sportswear retailer Sports Direct is due to hold its annual general meeting on Wednesday this week . However, Royal London Asset Management, one

The Links deal is expected to be finalised in the next few days as Folli Follie races to secure fresh funds amid an accounting crisis. Ashley has had offers turned down for HMV, Debenhams and Patisserie Valerie of late, as he insatiably hunts through the retail bargain bin in search of undervalued chains that have fallen foul of tough conditions on the high street.

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He is understood to be up against Homebase owners Hilco in the bidding war for Links, which has 20 UK shops and concessions in department stores. Although some Sports Direct investors have been urged to oppose Ashley's re-election as boss later this week at its annual general meeting (AGM), his controlling stake means they have no chance of actually unseating the deal-hungry chief.

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