-
Debenham's Survival
Can Debenham's survive? I hope it all works out well for them.
Sports Direct owner, Mike Ashley, put in a bid for Debenham's, a company that was like many others suffering hardship on the high street retail sector. However, the Debenhams board did not want to give control to Ashley, so with a consortium of lenders to fiannce them, they put the company in administration, this took them out of the stock market and Ashley then could no longer buy the shares. Because they are still in financial difficulties, Debenham's have had to close fifty stores and reduce the rent on a hundred others. Eighty per cent of the Landlords support Debenhams - but Ashley is now bank rolling one of the larger landlords to prevent that arrangement taking place by taking Debenhams to court - if the court agrees with Ashley, the company goes back into administration so that Ashley can purchase it up on the cheap. That is not good!
Ashley has made his £millions purchasing up brands on the cheap, who have found themselves in financial difficulties over the years. I have no objection to people making money good luck to them - but I do question the ethics of Ashley. His Sports Direct stores are in dire straits, his takeover of House of Fraser will almost certainly lead to the remaining stores closing if nothing is put forward to bail them out, his ownership of Newcastle United is very unpopular as his involvement in the Rangers Football club. In his effort to increase his already extensive wealth, Ashley continually bites the hand that feeds him. He turned whistleblower against some of his rival companies to force them out of business, he has mentioned that he will have to sell of Newcastles Stadium to raise funds - he is riding rough shod over many companies which will eventually see them close.
Let's hope Debenhams can make a difference! We need entrepreneurs not sharks!
-
Member Post Likes / Dislikes - 1 Likes, 0 Dislikes
Check Todays Deals on Ebay.co.uk
Check Todays Deals On Amazon.co.uk
-
One time Blue Riband M&S is about to be dropped from the FTSE 100 could that be a target for Ashley in a couple of years?
-
Member Post Likes / Dislikes - 0 Likes, 0 Dislikes
-
Originally Posted by
Alikado
One time Blue Riband M&S is about to be dropped from the FTSE 100 could that be a target for Ashley in a couple of years?
I sincerely hope not! He is a real reptilian human! He picks up potential successes on the High Streets when they are struggling - at a very cheap price - completely trashes them and then sells the businesses on at a high price! He also still owes me £56 quid which he has never returned to me! That is how he made his millions - I bet he owes thousands of people money! The creep.
-
Member Post Likes / Dislikes - 0 Likes, 0 Dislikes