AsprillasShinPad Posted July 15, 2019 Share Posted July 15, 2019 Lol SD down 40% in prior 12 months. f***ing hell. Excellent news. Hopefully his investments tank and he's forced to sell off NUFC to stay solvent. Maybe our best hope? Link to post Share on other sites More sharing options...
Chris_R Posted July 15, 2019 Share Posted July 15, 2019 Sports Direct described trading in December as "unbelievably bad". Must admit, this line gave me a semi. Link to post Share on other sites More sharing options...
AsprillasShinPad Posted July 15, 2019 Share Posted July 15, 2019 Because of his early success in one niche industry, he now thinks he's some kind of commercial genius who has discovered a formula that will work anywhere. And no amount of evidence to the contrary will convince him otherwise, because he's thick as pigshit and arrogant as well. He stumbled upon success with SD and ran with it to great effect, but it's not replicable in the wider world and he'll just never see this. He's the business equivalent of slash and burn agriculture. We used to call Harry Redknapp football's wrecking ball, but Ashley makes him look like an amateur. His cynicism and lack of concern for anyone but himself is staggering. I think he's a genuine psychopath. Link to post Share on other sites More sharing options...
PRL Posted July 15, 2019 Share Posted July 15, 2019 By Kate Holton LONDON (Reuters) - British retailer Sports Direct has delayed publishing its annual results, warning problems integrating its purchase of House of Fraser stores and increased scrutiny of its accounts could affect the financial guidance it gave in December. Shares in the company, controlled by Newcastle United soccer club owner Mike Ashley, dropped as much as 7% in early Monday trading. Sports Direct described trading in December as "unbelievably bad". While it did not give an update on its core sporting goods stores on Monday, it referred to complexities in integrating the House of Fraser (HoF) chain it bought last year and "uncertainty as to the future trading performance of this business". "HoF is clearly a disaster area, so this is a serious situation," independent retail analyst Nick Bubb said. Sports Direct's core chain has been a relatively resilient performer in recent years, compared with a string of British retailers that have collapsed in the face of subdued consumer spending and a shift to shopping online. However, the group has also engaged in a raft of dealmaking that has complicated the business. It recently spent time trying - and failing - to buy department stores group Debenhams, after purchasing House of Fraser out of administration last year. On Monday, the company said it also now controlled video gaming retailer Game Digital, "thereby adding to the complexity of the business", according to Bubb. Sports Direct, which is 61% owned by Ashley, said the timing of its results had also been affected by a review by Britain's accounting watchdog of Grant Thornton's audit of the company's results for the year ended April 29, 2018. It said that meant the company had to compile more information than in previous years. "Sports Direct believes its accounts and their audit to be at an advanced stage," it said. The company had planned to publish results for the year ended April 29, 2019, on July 18, but said it now expected to do so between July 26 and Aug. 23. "Sports Direct would note that its core principles in regards to its financial statements are to be conservative, consistent and simple," it said. Ashley had said in December there were significant challenges for House of Fraser, but there was also a "fantastic opportunity" to revive the chain. Hope the snake will have a great need for money in the future so that he may have to sell the club. Bold line is of interest - Grant Thornton were seemingly letting Woodford do all kinds of dubious things before his funds went to shit... Link to post Share on other sites More sharing options...
AyeDubbleYoo Posted July 15, 2019 Share Posted July 15, 2019 They mentioned Grant Thornton's behaviour on the news this morning... obviously doesn't make the thing seem any more respectable. Link to post Share on other sites More sharing options...
Matt Posted July 15, 2019 Share Posted July 15, 2019 Bold line is of interest - Grant Thornton were seemingly letting Woodford do all kinds of dubious things before his funds went to shit... Got a link for that? Been following the Woodford story. Link to post Share on other sites More sharing options...
AyeDubbleYoo Posted July 15, 2019 Share Posted July 15, 2019 Fucking lol at buying Game. Just as everyone moves into buying their games on Steam or PSN, he’s buying a shop that sells physical copies. Unless he’s planning on turning them into an online digital store, he’s fucked it yet again I've never understood what he's thinking. People keep bringing up the amount of stock he got from Evans Cycles. Well wow, he got some bikes cheap, but he's investing millions in something that's fundamentally dying, and making it worse with his appalling brand. Link to post Share on other sites More sharing options...
AsprillasShinPad Posted July 15, 2019 Share Posted July 15, 2019 Evans cycles was shit before he purchased them. He was hardly going to get cyclists through the doors of a failing bike shop by selling even shitter bikes that you could get in Halfords or a supermarket. Link to post Share on other sites More sharing options...
Matt Posted July 15, 2019 Share Posted July 15, 2019 He's also being shown up by the continued resurgence of JD Sports, who took the opposite approach to Ashley's pile-it-high outlets. JD Sports is worth £6bn. SD is worth £1.4bn. Cheaper than the opposition in more ways than one. Link to post Share on other sites More sharing options...
Guest poor Posted July 15, 2019 Share Posted July 15, 2019 He's also being shown up by the continued resurgence of JD Sports, who took the opposite approach to Ashley's pile-it-high outlets. JD Sports is worth £6bn. SD is worth £1.4bn. Cheaper than the opposition in more ways than one. great point this, hope the pattern continues Link to post Share on other sites More sharing options...
Guest Posted July 15, 2019 Share Posted July 15, 2019 Fucking lol at buying Game. Just as everyone moves into buying their games on Steam or PSN, he’s buying a shop that sells physical copies. Unless he’s planning on turning them into an online digital store, he’s fucked it yet again He invested in them the last time they nearly went under, and bought a stake in their digital and game arena side, which tends to do well. I guess he just wanted the whole lot. End of the day he's going to own some big names on a high street that is being priced out of business by rent and land owners. Link to post Share on other sites More sharing options...
Johneddy Posted July 15, 2019 Share Posted July 15, 2019 Is no-one calling anyone from the takeover group to explain clearly what happened between their announcement in June and the current position which resembles either total collapse or total bullshit in the first place. Is there a possibility that people from within our club set the whole charade up? Who are the 'other' interested parties ... If we've all just been duped then shiny poond to the person who 'outs' the truth of this fake event. A decent bit of investigative journalism could surely blow the lid and get a huge scoop for whoever takes up the challenge. It's OK Chron and Journal I was on about reporters that cared enough not you self -seeking muppets who shame the town by your pretence at concern. Link to post Share on other sites More sharing options...
gdm Posted July 15, 2019 Share Posted July 15, 2019 Cunts just bout £12m worth of shares in Sports Direct today Link to post Share on other sites More sharing options...
Minhosa Posted July 15, 2019 Share Posted July 15, 2019 I have a suspicion he's doing this on purpose to take it back private. A number of 'poor' decisions, sink the share price, he get's it back for fuck all and can then pick and choose how he puts right those decisions. Link to post Share on other sites More sharing options...
buzza Posted July 15, 2019 Share Posted July 15, 2019 One can only wish all sorts of malign things to happen to this bloke. He is a horrible example of a person and it shows through his lack of respect for everything and everyone as long as it serves to make him and his accounts fatter. Karma for this lardars* would be nice Link to post Share on other sites More sharing options...
LoveItIfWeBeatU Posted July 15, 2019 Share Posted July 15, 2019 He pretty much always delays the release of his companies accounts. The maximum fines for doing so are peanuts. He doesn't like answering to anyone so the more shares he owns the better for him. Drop some bad news, share price drops, Mike Ashley buys shares at new lower price. It's another of his standard operating procedures. Link to post Share on other sites More sharing options...
Dokko Posted July 15, 2019 Share Posted July 15, 2019 £300m+ of shares would grt him nearer his goal. Silly fat twat. Link to post Share on other sites More sharing options...
TRon Posted July 15, 2019 Share Posted July 15, 2019 Think no club will ever believe BZG again after how they have let this one play out. Also after what happened to their supposed interest in Liverpool. It could well be that they are serial time wasters. But then according to our owner, every possible buyer who has expressed an interest has been exactly the same. Is it just us that attracts the wideboys ? Until I have good reason to believe otherwise, I will assume 100% of the blame needs to go to Ashley as I don't think he has ever been serious about selling. Link to post Share on other sites More sharing options...
The Prophet Posted July 15, 2019 Share Posted July 15, 2019 Wonder what happened with BZG? We're stuck with this fat slug until his demise aren't we? Link to post Share on other sites More sharing options...
Rebellious Posted July 15, 2019 Share Posted July 15, 2019 Wonder what happened with BZG? We're stuck with this fat slug until his demise aren't we? My friend was asking my opinion on why we have not heard anything, I can only guess that an offer is still on the table from them that Ashley refuses to accept that could expire at anytime and thats why neither have said anything more publicly. Or the whole thing is covered under some agreement to not discuss anything around the deal even if it doesn`t go ahead. Link to post Share on other sites More sharing options...
PRL Posted July 15, 2019 Share Posted July 15, 2019 Bold line is of interest - Grant Thornton were seemingly letting Woodford do all kinds of dubious things before his funds went to shit... Got a link for that? Been following the Woodford story. No specific link, but if you look at the details of the story and how Woodford was floating stocks into Guernsey and seeing huge upticks in Level 2 and 3 assets year on year, the audit should have been full of fairly material qualifications alerting the FCA and investors (this should have been picked up in fairness, particularly by the FCA and firms like Hargreaves Lansdown, regardless). We fight a battle every year with our auditors over what they wish to make material and how they present our data and we are as white as white in that regard. No idea how Woodford got what he got through his accountants without alarm bells all over the shop. Also, GT also auditor of Patisserie Valerie, which is another accounting shitshow. They appear to either be very unfortunate or a go-to for those who want flexibility in what they're showing their investors. Link to post Share on other sites More sharing options...
Wilson Posted July 15, 2019 Share Posted July 15, 2019 Wonder what happened with BZG? We're stuck with this fat slug until his demise aren't we? My friend was asking my opinion on why we have not heard anything, I can only guess that an offer is still on the table from them that Ashley refuses to accept that could expire at anytime and thats why neither have said anything more publicly. Or the whole thing is covered under some agreement to not discuss anything around the deal even if it doesn`t go ahead. This is it. They've made their offer, Ashley isn't making 300 billions off it so he's just ignoring it/them as he has not real intention of selling anyway so makes no odds to him. Meanwhile BZG move on to other business, probably another club next season. Link to post Share on other sites More sharing options...
hakka Posted July 15, 2019 Share Posted July 15, 2019 Eventually someone will get the right announcement date/time with the amount of bullshit guesses going on. OMG. Should we do a sweepstake? Someone get a piece of paper and a pen. Date, year, time folks. Go. 15th March 2019, 20:00. BZG announce they have failed to buy this window, remain interested and may resume discussions in December. Bruce now over the line, clear path for this come through now. Link to post Share on other sites More sharing options...
Facundo Ferreyra Posted July 15, 2019 Share Posted July 15, 2019 Eventually someone will get the right announcement date/time with the amount of bullshit guesses going on. OMG. Should we do a sweepstake? Someone get a piece of paper and a pen. Date, year, time folks. Go. 15th March 2019, 20:00. BZG announce they have failed to buy this window, remain interested and may resume discussions in December. Bruce now over the line, clear path for this come through now. 15th March? Link to post Share on other sites More sharing options...
hakka Posted July 15, 2019 Share Posted July 15, 2019 Eventually someone will get the right announcement date/time with the amount of bullshit guesses going on. OMG. Should we do a sweepstake? Someone get a piece of paper and a pen. Date, year, time folks. Go. 15th March 2019, 20:00. BZG announce they have failed to buy this window, remain interested and may resume discussions in December. Bruce now over the line, clear path for this come through now. 15th March? I meant July. How on earth did I fuck that up at the time ? Link to post Share on other sites More sharing options...
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