Major Baltic sports retailer in which Sports Direct acquired a 60% stake in May 2013. 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. 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. 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. [16], In July 2008, it was disclosed that Sports Direct also held a 12.3% holding in the John David Group, parent of JD Sports. The sale is due to be completed by May 2017. 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. [45], In February 2004, the company acquired Dunlop Slazenger for around £40 million, which included the Dunlop, Slazenger and Carlton brands. By Isabella Fish 5 January 2021. Sports Direct-branded stores exist under a franchising agreement in South Africa and the Middle East. Sports Direct stated at the time it intended to be a supportive share holder. The ambulance service received three calls about women experiencing pregnancy difficulties, including one who gave birth in the site's toilets. [5] Other retailers owned by the company include Jack Wills, Flannels, USC, Lillywhites, Game, and Evans Cycles. therefore the 19,000 staff above is actually substantially fewer. 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. DW’s Fitness First Clubs have been unaffected by the administration and the subsequent sale. [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. Sports Direct says it intends to run the DW business under its Everlast brand. [44], 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. The company is best known for trading predominantly under the Sports Direct brand, which operates in both physical outlets and online. 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. M&Co – 400 jobs5 August: M&Co, the Renfrewshire-based clothing retailer, formerly known as Mackays, will close 47 of 215 stores. The rest have been closed but some may be reopened by Frasers in due course, said BDO. [52], Sumitomo Rubber intended to acquire the entire issued share capital of Dunlop Brands Limited, Dunlop Slazenger 1902 Limited, and Dunlop Australia Limited, and the Dunlop-related business of Dunlop Sports Group Americas, Inc. which are subsidiaries of Sports Direct. In 1984, Preston Sports shop was opened in London and by 1992 the company had 12 stores. [1] The number of retail stores had now increased to 50, along with the acquisition of the tennis and golf brand, Donnay. Pret a Manger – 2,890 jobs27 August: The majority of the cuts are focused on the sandwich chain's shop workers, but 90 roles will be lost in its support centre teams. The slump in … [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. Established in 1982 by Mike Ashley, the company is the United Kingdom's largest sports-goods retailer and operates roughly 670 stores worldwide. Frasers Hospitality, a member of Frasers Property Group, is a global hospitality operator with Gold-Standard serviced apartments, hotel residences and boutique lifestyle hotels across Australia, Southeast Asia, North Asia, Middle East, Africa, Europe and the UK. Mike Ashley’s Frasers Group has reportedly acquired the stores and online business of premium independent Psyche, for an undisclosed sum. The Restaurant Group – 3,000 jobs3 June: The owner of dining chains such as Wagamama and Frankie & Benny’s has closed most branches of Chiquito and all 11 of its Food & Fuel pubs, with another 120 restaurants to close permanently. Mike Ashley’s Frasers Group has acquired the gym and fitness chain DW Sports in a deal potentially worth up to £44m, but only half of the company’s jobs have been saved. [11], By 2000, the business had 80 stores, and had formed a joint venture in Belgium, with 22 stores trading as Disport. 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. NEWCASTLE United owner Mike Ashley’s Frasers Group has issued a profit warning. 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 saves 922 jobs in £37m DW deal. 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. 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. The acquisition allowed Sumitomo Rubber to consolidate the Dunlop brand across various products including sports goods worldwide. 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. [1] Ashley incorporated the business in 1999. In 1987, Fraser and Neave and Goodman Fielder Wattietook control of Cold Storage Holdings, the holding group f… [42] In February 2017, it was reported that Sports Direct had failed to inform its workforce of a data breach of their personal information after an attacker gained access to its internal systems in September 2016. Frasers Group acquires Psyche. [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. The cuts include the 1,000 job losses announced on 6 July. [8] The company's business model is one that operates under low margins. 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. Administrators BDO said 43 of the group’s 73 gyms – three not yet reopened – and 31 of its 50 shops had been transferred to Frasers Group. Frasers already owns the House of Fraser chain, another department store, which it also bought out of administration, providing potential synergies if he were to merge the two. [39][40] 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. "[43], The company announced on 16 December 2019 that it would change its name from Sports Direct International plc to Frasers Group plc effective from 17 December 2019. 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. Monsoon Accessorize – 545 jobs11 June: The fashion brands were bought out of administration by their founder, Peter Simon, in June, in a deal in which 35 stores closed permanently and 545 jobs were lost. The Frasers sites will … [47] In 2006 he acquired Kangol for an estimated £12 million. DW Group, founded by the former Wigan Athletic owner Dave … [37] Workers on zero-hours contracts are not included in the rise and neither are those already paid more than minimum wage (management/supervisors etc.) [19][20][21][22], In February 2013, after fashion retailer Republic went into administration, Sports Direct bought 116 Republic stores, the brand name and the company's head office from the administrator for an undisclosed sum. foot unit in Dunstable. Mike Ashley's Frasers Group has confirmed it is considering buying Arcadia … Costa Coffee – 1,650 jobs3 September: The company, which was bought by Coca-Cola two years ago, is cutting up to 1,650 jobs in its cafes, more than one in 10 of its workforce. In the early 1980s, the firm began divesting its non-property assets. 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. [35], 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,[36] 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". Frasers Group (FRAS.L), the retail company owned by billionaire Mike Ashley, is committed to physical stores despite the decline of the high street. “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. [27], In December 2016, Sports Direct agreed to sell the remaining international rights to its Dunlop brand to Sumitomo Rubber Industries for £112 million ($137.5 million). Prior to the company entering administration, Sports Direct's Mike Ashley held an 11% stake in the company. The Debenhams board responded by stating they were open-minded with regard to exploring operational opportunities to improve its performance. [1] In 1984, Preston Sports shop was opened in London and by 1992 the company had 12 stores. “It’s likely to be some time before people bound back to the gym in greater numbers and it can be ascertained whether this latest acquisition will have been the right choice for the company.”, BDO’s Graham Newton said: “We are pleased to have achieved a sale of a significant part of the DW Sports business as a going concern, as this will not only secure employment for the majority of employees, but should also result in a return to the company’s creditors in due course.”. Frasers Group was reported to be in talks to acquire Debenhams,[58][59][60] though it was later reported that Ashley was mainly interested in using empty Debenhams stores to expand his other chains, including House of Fraser, Sports Direct and Flannels; taking 'vacant possession' would avoid redundancy costs for existing staff. [38], In August 2016, Sports Direct admitted breaking the law and will disburse unlawfully withheld wages totalling about £1m to the affected workers. House of Fraser owner threatens landlords with store closures over rent, Sign up to the daily Business Today email. [15] In June 2007, the company acquired Everlast for £84 million. The company that would later be known as Frasers Property was incorporated in 1963 as Cold Storage Limited, a market and retail chain. Pizza Express – 1,100 jobs7 September: The restaurant chain confirms the closure of 73 restaurants as part of a rescue restructure deal. A union official suggested that these practices were illegal as they brought workers' earnings below the minimum wage. [53], On 30 October 2018, Evans Cycles was purchased by Sports Direct in a pre-pack administration deal. The deal saved around 550 jobs. [10] It is listed on the London Stock Exchange and it is a constituent of the FTSE 250 Index. [48] Most of these brands were bought from distressed sellers. [30], 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. [1][11] In 2005 the company began a major rebrand of the stores, changing the fascias to Sports World. Marks & Spencer – 7,000 jobs18 August: Food, clothing and homewares retailer cuts jobs in central support centre, regional management and stores. 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”. “Frasers Group looks forward to elevating the gym and fitness assets acquired … under the group’s existing Everlast brand.”. Clarks – 900 jobs21 May: Clarks plans to cut 900 office jobs worldwide as it grapples with the growth of online shoe shopping as well as the pandemic. 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. The company responded by saying there were unspecified inaccuracies in the reports. Sports Direct formerly held 5% of Amer Sports. Total job losses could reach 3,000. The first property it developed was a shopping centre known as The Centrepoint located on Singapore's Orchard Road. [34] 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". (Bloomberg) -- 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. 06-M-077/2016: Acquisition by Sumitomo Rubber Industries Ltd. of Shares in Dunlop Brands Limited, et al. 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. [24] On 13 January 2014, Sports Direct bought 4.6% of Debenhams shares. [12] The group debuted on the exchange on 27 February 2007. [41] 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. Frasers Group PLC (LON:FRS) was first to warn today that it was ripping up its previous guidance of a healthy profit increase this year. 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 … The stock market purchase of 56.8 million shares (worth around £46m) was made without the prior knowledge of the Debenhams board. Total group revenues increased from £3.7bn to £3.9bn after a number of acquisitions including Game, Sofa.com and the fashion brand Jack Wills. [14] 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 assistant store manager role will go across all shops. In 2006 it overtook JJB Sports as the UK's largest sportswear retailer. [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. Frasers Group plc (formerly Sports Direct International plc) is a British retail group, named after its ownership of British department store chain, House of Fraser. Debenhams saw a glimpse of hope when Mike Ashley’s Frasers Group confirmed over the weekend that it was in 11th-hour talks with the department … The Newcastle United owner's retail empire has bought some of its former rival's gym and fitness assets out of administration. foot unit in Dunstable. [31], 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. Frasers said it … 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. 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. The number of retail stores had now increased to 50, along with the acquisition of the tennis and golf brand, Donnay. 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. Frasers-owned retail empire Sport Directs this morning raised the lower end of its annual forecast as it reported a 25 per cent rise in first-half core earnings. [46] This was followed by the acquisitions of outdoor gear manufacturer Karrimor in March for a reported £5 million. After looking at a takeover,[49] Sports Direct took a £9 million stake and signed a lucrative long-term deal in August 2005 with troubled brand Umbro,[50] which was subsequently sold to Nike. Burberry – 500 jobs worldwide15 July: Total includes 150 posts in UK head offices as luxury brand tries to slash costs by £55m after a slump in sales during the pandemic. [18] It was announced on 1 October 2012, that Sports Direct had purchased rival retailer JJB's brand name, website, 20 stores and all of their stock in a deal for approximately £24m. Underlying pre-tax profits for the group fell by 18% to £117.4m in the year to 26 April. The chain, part of Mike Ashley's Frasers Group that owns Sport Direct, has closed about 10 of the 59 stores bought out of administration in 2018. Debenhams – 4,000 jobs9 April: At least 4,000 jobs will be lost at Debenhams in its head office and closed stores after its collapse into administration in April, for the second time in a year. and Assets Owned by Dunlop Sports Group Americas, Inc. - Philippine Competition Commission", "House of Fraser bought by Mike Ashley's Sports Direct for £90m", "Evans Cycles sold to Mike Ashley's Sports Direct as part of pre-pack administration", "Mike Ashley buys Sofa.com for "nominal sum, "Mike Ashley wins race to buy Jack Wills", "Mike Ashley buys long-time rival's sports business", "Mike Ashley makes eleventh-hour play for Debenhams", "How can Mike Ashley's Frasers Group revive Debenhams? [52], On 10 August 2018, the House of Fraser entered administration. The Sports … [9] Mike Ashley has continued to hold a majority stake in the business, and his holding has been 61.7 percent since October 2013. 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