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Author Topic: F*ck Off, Mike Ashley  (Read 801580 times)

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Offline Stifleaay

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Re: F*ck Off, Mike Ashley
« Reply #19725 on: Sunday 3 May 2020, 09:38:52 PM »
Reading the Sunday Times Business Section today and his son-in-law Michael Murray is front page and spread across pages 2 and 3 whinging about Commercial Landlords charging models and basically saying that they all need to change to turnover only based rental.

Bigger the turnover of the store, bigger the rent.

Can you imagine trusting Ashley to declare his store turnover honestly? :lol: :lol: :lol:

Would rather trust the McCanns taking my kids on holiday.
Aye, commercial rents and in particular retail rents do need a massive change (and reduction) in rates.
Many others advocate turnover based rental, however as you say there is no way to prevent companies from falsely declaring how much they earn via each location.

As it happens in recent years Ashley has started buying his own locations. He has bought the building where Flannels is on Northumberland Street for about £30m. In time once WHSmith and H&M move out, he’ll move in Sports Direct and others. Last year he was said to be making a bid for an outlet park where he was going to kick out all the remnants and move his stores in.

Offline Pandamninator

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Re: F*ck Off, Mike Ashley
« Reply #19726 on: Monday 4 May 2020, 03:47:12 AM »
Sports Direct managers accuse firm of making them work on furlough

https://www.theguardian.com/business/2020/may/03/sports-direct-managers-accuse-firm-of-making-them-work-on-furlough?CMP=Share_AndroidApp_Copy_to_clipboard

Yup that's fraud.

Can anyone see any tweets from main Sports Direct account, can't work out if I'm blocked or they have deleted them?

Only SD Twitter account I can find is this one and they last tweeted in Dec '19.

https://twitter.com/sportsdirect_cs?lang=en
Same it's weird, the main account was still tweeting stuff recently I'm sure but I can't find it.

If I recall, it used to be SportsDirectUK as their main Twitter account. Definitely seems to have gone.

Yep.

Think it was soon after the CFO posted that smug open letter to Boris Johnson asking if they should open the stores - I think they seriously thought they had the public support behind them and would get a round of applause for taking it to Boris.
"But Italian football can defy the laws of physics; only here does a small pull backwards on the shirt send a grown man tumbling forwards"

Offline jarrovianmag

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Re: F*ck Off, Mike Ashley
« Reply #19727 on: Monday 4 May 2020, 07:05:23 AM »
It not gone as now the Fraser Group?

Offline wyn davies

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Re: F*ck Off, Mike Ashley
« Reply #19728 on: Sunday 10 May 2020, 12:46:41 PM »
anyone know the state of Ashleys finances with the virus , must be losing a rake of cash

Offline Stifleaay

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Re: F*ck Off, Mike Ashley
« Reply #19729 on: Sunday 10 May 2020, 12:56:01 PM »
anyone know the state of Ashleys finances with the virus , must be losing a rake of cash
He’s on the verge of having £300m paid into his personal account.

Everything lost at the moment will be lost as SD as company. There is no doubt that he will have a personal fortune which will see him and his family out in significant wealth. How much that is, we don’t know. SD and all his other side projects are not as easily transparent, and as seen with NUFC, ordinary charges in companies and always be paid to companies he owns and therefor takes money out. It will be virtually impossible to go through every transaction and see which ones have been legitimate transactions, and which ones have been inflated transactions where he has taken a share or all of the money.

Even the loss of value in SD will all likely be temporary. Sooner or later the economy will bounce back, as he offers cheap sorting equipment, he’s always going to be in a good position to start making money back. I have said it before, unless someone like Primark starting opening their own sports clothing stores, and football clubs start selling their merchandise directly only, then he’s not going to face any meaningful competition with SD.