Sports Direct Share Discussion Threads

[debsdowner] 09/9/2018 16:13

Ashley suffering major problems at the moment he could lose even more money in Debenhams and SPD suffer further write-downs.

[debsdowner] 09/9/2018 16:12

Another blow for Debenhams says Devon Live:

"Debenhams is facing more problems after a leading credit insurer turned the screw on the embattled department store chain.

Euler Hermes has cut the number of products it is prepared to insure citing Debenhams third profit warning of the year and credit downgrading as reasons.

It means the industry fears the department store chain – which has key branches in Plymouth, Exeter, Torquay and Truro – could go bust.

Debenhams suffered a 1.7 per cent drop in like-for-like sales over the 15 weeks to June 16, 2018, has issued three profit warnings so far this year and was downgraded by credit ratings agency Moody’s."

[ignoble] 07/9/2018 15:26

Not looking good at the moment

[debsdowner] 07/9/2018 15:07

Freefall !

[debsdowner] 04/9/2018 15:51

Now Ashley says XPO misled and more revelations:

"According to the Sunday Times, Sports Direct claims that the former House of Fraser chairman, Frank Slevin and his colleagues, had strung along XPO and suppliers by promising them deferred payments using Chinese investment money that failed to materialise."

"It quoted Ashley saying: “I believe that XPO and others were totally misled by Frank Slevin and the House of Fraser board and the demise of House of Fraser should be fully investigated.”

"Slevin responded that Ashley was “obviously entitled to his view,” adding that he had had “no direct conversations” with XPO, but declined to comment further, the report concluded."



There will be complex legal wrangling going on and sales will be significantly affected.

[debsdowner] 03/9/2018 13:23

Mike Ashley running into trouble by the hour.

His House of Fraser website still down losing online orders.

He cannot access stock from two of XPO warehouses stores are running short of stock the stores must be losing sales and potential losses continuing.

The latest news Philip Day removed all its concessions from House of Fraser, including exclusive brand manes such as Yaeger.



Looks like his acquisition at huge risk at the moment.

[debsdowner] 02/9/2018 08:03

More problems with Ashleys purchase of House of Fraser:

"Sports Direct billionaire Mike Ashley has called for an Insolvency Service inquiry into House of Fraser’s former directors, accusing them of “totally” misleading suppliers and the company’s warehouse operator."



Looks like to me like there may be a dispute who owns the stock in the XPO warehouses!

Asley wont like that as he paid £90 million and expected to have purchased just under £90 million of stock !

All this deserves an RNS on Sports Direct!

[debsdowner] 01/9/2018 18:25

XPO blocked Mike Ashley from getting stock from two of their warehouses and stores not getting replenished, this must be affecting House of Fraser potentially losing sales and continuing losses.



He might even have to write of the £90 million!

He isn't turning up at the AGM says the times.



Nightmare !

[ltcm1] 21/8/2018 14:34

MA talking about getting egaming into the flagship stores. Not a fan of MA but I have to admit it's an interesting development.

Perhaps Mike is a genius but to me it looks like he has got too many projects on the go simultaneously and I can see SPD unravelling into a horrible mess. He had something good and simple which worked only it wasn't enough and now he wants to prove he can do more than sell tainers and tracksuits.

It will all end in tears however as MA has badly over-reached himself.

[clocktower] 20/8/2018 13:13

Looks like the start of a decent recovery , what with the football season really getting underway, plus schools going back with the kids all moving up a year and before long the start of the Christmas buying period. share price must really be in for a boom time I expect, plus they can now put their top premium brands into HoF.

A very exciting time for MA and all stakeholders in the company.

[undervaluedassets] 20/8/2018 09:58

course he is short.

Mike has picked up a bargain simple.

People on here know sooo much more than him about retailing...? Really?

[leejp] 19/8/2018 19:25

Wow, after that diatribe from Downer I might buy in to SPD.
Methinks he might be short.

[ianood] 19/8/2018 16:58

not a lot of facts just one hell of a lot of conjecture from someone I suspect has little knowledge of insolvency law!

[debsdowner] 18/8/2018 15:48

ignoble,

Yes I saw your post "nightmare" indeed!

Mike Ashley didn't have much credibility with the city previously, the workers don't like him and the fans don't like him.

He has major problems at the moment.

[ignoble] 18/8/2018 15:00

Newcastle United too
He has a lot going on ...

[debsdowner] 18/8/2018 14:39

QANTAS, Yes posters here need to read this on the Debenhams thread, Sports Direct could be at risk.


debsdowner
18 Aug '18 - 10:00 - 8948 of 8954 Edit
0 0 0
clocktower,

You say Mike Ashley will be fine with the closure of the HOF website, I challenge you to explain why?

Can you give me some estimation of what the website may have produced in revenue?

Because I can but bet you cannot!

justice... ,

Ashley's dream now turned into a "nightmare" as one poster said on Sports Direct forum.


All these posters who have foolishly thought Ashley would bid for Debenhams with its billions of leases before a CVA are in complete cuckoo land.

His acquisition turned sour within days.

He could hand the keys back to the Administrators because he is operating under licence according to the BBC but would lose his £90 million.

That will have an impact on Sports Direct with further write downs and loss of profits.

Ashley appears to be cornered now:

1- He has lost customer loyalty for having to cancel and refund orders
2- Its costing him significant money at the moment
3- Its affecting Sports Direct share price
4- Its increased Sports Direct risk
5- Its taken his focus off the running of SPD
6- He is losing shareholder confidence
7- He is making himself look a complete fool with the city and press alike
8- He will hamper any further acquisitions
9- He will lose credibility with the banks
10- He will lose credibility with Suppliers and brand names
11- He could lose out on leases with stores due to press comments Philip Day offering better deals with owners.

Its turning out to be a complete and utter nightmare for Ashley and one which he has foolishly guessed wrong.

[qantas] 18/8/2018 10:26

Good morning debsdowner.

I see you have another target Sports Direct.



Frank Field urges Mike Ashley to take on House of Fraser pension scheme



Please do your own research.

[debsdowner] 17/8/2018 21:56

Sports Direct have already taken a write down on Debenhams, if HOF fails that is another £90 million lost and more besides.

In order to keep HOF afloat Ashley may have to stump up a few hundred million to pay off aggrieved suppliers.

But having said all that he may still struggle to turn around HOF.

HOF could end up being a significant liability to SPD if SPD sales fall its lights out.

[debsdowner] 17/8/2018 21:48

How will this affect Sport Direct?

Well its already affecting the company the share price falling.

Sports Direct transport turning up at a XPO Warehouse and told to go away until Mike Pays them £30 million

Big brands are already pulling stock from HOF the stores will soon run out of stock.

Ashley's dream turned into a nightmare trying to save the £90 million he has put in and not lose any more his eye taken off the ball at Sports Direct.


Shareholders in Sports Direct now going for the exit!

[debsdowner] 17/8/2018 21:43

clocktower,

XPO owed over £30 million and the company worth far more than Sports Direct.

XPO appear to own a warehouse which presumably contains stock from other suppliers, so the warehouse still running but no one will allow access to stock normally held for HOF. XPO may distribute stock to other stores like Harrods.

If one is in dispute over money the bigger guy has the most clout. XPO has a lot more clout. Seems they will not give or negotiate its either pay up or get lost.

[useless23] 17/8/2018 19:40

DebsDowner really has it in for MA.lol. I don't hold.

[clocktower] 17/8/2018 19:18

If Sports Direct have not got access to the stock in XPO`s warehouses, XPO has a even bigger problem on their hands - A warehouse earning zero, stock that one way or another that they will have to clear and free up so to be able to achieve some earnings from that space.

MA will not give a fig, and rightly so, he never bought the debts, he never purchased a on-going concern - he purchased what EY had to offer. So why should he be the lifeboat that gets all those daft enough to have given the Chinese behind it, so much credit. Why are the press not after the former owners the way they were after P.Green with BHS - a good friend of MA it seems.

How are the stores trading with the stock they have, and I guess those that are removing stock from the concessions are just freeing up space for MA to make the changes more rapidly.

All those involved should be very grateful that MA stuck a bid in that was accepted, a number of staff still have jobs, some supplies still have outlets, subject to agreeing terms with SD.

If they negotiate well they can at least claw back the losses over time by for example agreeing to adding 5% to every new invoice raised to cover future insurance costs or some other wheeze.

Maybe its time for a host of New Brands to be given the limelight at HoF stores.

[debsdowner] 17/8/2018 17:10

Latest on HOF dispute XPO Logistics owed £30 million!

No wonder they wont allow Sports Direct access to goods in their Warehouses.



Mike Ashley being held to ransom say the press, he will be infuriated his purchase gone pear shaped days after acquisition and to top it all he is facing being booted out of some of the stores Philip Day offering to pay higher rents.

Ashleys dream of being the Harrods of the High Street now turned into a nightmare.


Suppliers pulling their stocks out of his stores premium brands at that.

[ignoble] 17/8/2018 15:54

Bit of a nightmare
Imho