DW Sports – 1,700 jobs at risk3 August: DW Sports fell into administration, closing its retail website immediately and risking the closure of its 150 gyms and shops. Total job losses could reach 3,000. Azzurri – 1,200 jobs17 July: The owner of the Ask Italian and Zizzi pizza chains closes 75 restaurants and makes its Pod lunch business delivery only. Frasers said it … [23] In July 2013, more than 2,000 full-time staff were awarded around £70,000 each under the company's bonus share scheme. [11], In 2016, Sumitomo Rubber Industries, a global tyre, sports goods, and industrial rubber products manufacturing company based in Kobe, Japan, filed for regulatory approval before the Philippine Competition Commission in connection with its planned acquisition of Dunlop-related wholesale, manufacturing, and licensing business from Sports Direct. [11], By 2000, the business had 80 stores, and had formed a joint venture in Belgium, with 22 stores trading as Disport. The Newcastle United owner's retail empire has bought some of its former rival's gym and fitness assets out of administration. Mike Ashley's Frasers Group saves 922 jobs in £37m DW deal. The company said it intended to run the gym and fitness business using its Everlast brand, the American boxing kit manufacturer made famous by Muhammad Ali, which the business acquired in 2007 for $168m (£128m). A union official suggested that these practices were illegal as they brought workers' earnings below the minimum wage. [13], In December 2006, it was revealed that Sports Direct had built up a 29.4% stake in Blacks Leisure Group, the owner of Millets. Last week Frasers Group threatened to close stores if landlords did not agree to move to rents based on sales figures, saying that Brexit and the coronavirus pandemic had led to “the most challenging year in the history of the company”. The cuts include the 1,000 job losses announced on 6 July. Investors in Sports Direct owner Frasers Group are hoping that the company will have been boosted by strong online and reopening sales when it reveals … Frasers Group in the firing line after profit warning Frasers Group, the owner of Sports Direct, is not the only retailer set to suffer now that new Covid restrictions have been introduced. [1], In late November 2006, a number of business newspapers reported that Ashley was looking at an IPO of Sports World International. 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. The uplift was largely driven by strong trading in its stores after lockdown, growth in online sales, new Flannels stores and continued operating efficiencies. Construction on that development started in 1980 and was completed in 1983. For the year to the end of March, DW’s accounts show the business had assets worth £194m but ran up a loss of £20m. [56], 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. [6] Its ownership of the Everlast name inspired the launch of the Everlast Fitness Club chain in 2020.[7]. “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. “the most challenging year in the history of the company”. [38], In August 2016, Sports Direct admitted breaking the law and will disburse unlawfully withheld wages totalling about £1m to the affected workers. - 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. M&Co – 400 jobs5 August: M&Co, the Renfrewshire-based clothing retailer, formerly known as Mackays, will close 47 of 215 stores. High street and internet retailer created from the merger of Sports Soccer and Sports World, and progressively rebranded as SportsDirect.com since 2007 after the company's, Purchased by Gilesports and merged with SportsDirect.com, "SPORTS DIRECT INTERNATIONAL PLC - Overview (free company information from Companies House)", "Mike Ashley's Frasers Group unveils £100m incentive for staff", "Frasers says it will strengthen its gym and fitness business Everlast with latest acquisition. [1] 1995/96 saw the stores change to "Sports Soccer" along with the re-location of head office and warehouse to a 100,000 sq. The first property it developed was a shopping centre known as The Centrepoint located on Singapore's Orchard Road. Celtic Manor – 450 jobs9 July: Bosses at the Celtic Collection in Newport, which staged golf's Ryder Cup in 2010 and the 2014 Nato Conference, said 450 of its 995 workers will lose their jobs. In 1987, Fraser and Neave and Goodman Fielder Wattietook control of Cold Storage Holdings, the holding group f… 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. [10] It is listed on the London Stock Exchange and it is a constituent of the FTSE 250 Index. 06-M-077/2016: Acquisition by Sumitomo Rubber Industries Ltd. of Shares in Dunlop Brands Limited, et al. [47] In 2006 he acquired Kangol for an estimated £12 million. Mike Ashley’s Frasers Group has reported an 18% rise in pre-tax profits as it continues talks about the potential acquisition of Debenhams. [28] Sumitomo already own the rights to the brand in Japan, South Korea and Taiwan. Pizza Express – 1,100 jobs7 September: The restaurant chain confirms the closure of 73 restaurants as part of a rescue restructure deal. [55], On 5 August 2019, Sports Direct purchased Jack Wills out of administration for £12.7 million after winning a competition against Edinburgh Woollen Mill. [32][33] 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. Frasers Group acquires Psyche. John Lewis – 1,300 jobs9 July: John Lewis announced that it is planning to permanently close eight of its 50 stores, including full department stores in Birmingham and Watford, with the likely loss of 1,300 jobs. [5] Other retailers owned by the company include Jack Wills, Flannels, USC, Lillywhites, Game, and Evans Cycles. Explore Frasers Property, a diverse, multi-national property company | In residential, retail, commercial, industrial, logistics, hospitality development and management, we believe experience matters. “Mike Ashley’s Frasers Group has a track record in snapping up distressed firms and, given DW Sports was a former rival to Sports Direct, it’s an acquisition that is perhaps even more appealing,” said Susannah Streeter, senior investments and markets analyst at Hargreaves Lansdown. [53], On 30 October 2018, Evans Cycles was purchased by Sports Direct in a pre-pack administration deal. [52], On 10 August 2018, the House of Fraser entered administration. Mike Ashley’s Frasers Group has reportedly acquired the stores and online business of premium independent Psyche, for an undisclosed sum. Frasers Group PLC , the owner of House of Fraser and Sports Direct, said it is talking to the administrators of Debenhams PLC about potentially buying its … The company was founded by Mike Ashley in 1982 as a single store in Maidenhead trading under the name of "Mike Ashley Sports". Mike Ashley’s Frasers retail empire has issued a profit warning, saying publicised guidance of a 20% to 30% boost in profits this year is unlikely to be achieved. WH Smith – 1,500 jobs5 August: The chain, which sells products ranging from sandwiches to stationery, will cut jobs mainly in UK railway stations and airports. therefore the 19,000 staff above is actually substantially fewer. Mr Wootton said Frasers is still in talks around potentially buying Debenhams, after the Sports Direct owner confirmed it was in talks over a move on Monday. 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. 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