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Sports Direct uses Mike Ashley's sibling for some overseas deliveries - report

Mon, 22nd Aug 2016 14:41

(ShareCast News) - Sports Direct pays some takings from web customers outside the UK to a delivery brokerage owned by founder Mike Ashley's brother, according to a report.Financial Times added that the FTSE 250-quoted retailer did not disclose this in its published accounts.The newspaper noted this expanded the list of transactions between the sporting-goods retailer and personal connections of billionaire Ashley.Sports Direct operates local-language websites that serve some 33 other countries.Earlier this year, in January, it emerged Ashley had put his daughter's 26-year-old boyfriend at the helm of Sports Direct's property team via a consultancy contract.That contract could see the boyfriend get paid millions of pounds.Meantime, Financial Times reported that Cleethorpes-based Barlin Delivery was owned by John Ashley, older brother to Ashley. It received a share of the revenue from Sports Direct's website orders sent overseas.These orders accounted for about 6% of Sports Direct's £2.9bn revenue, the report said, adding Barlin made about £300,000 a year in profit from the arrangement.Financial Times reported that the sporting goods retailer's website explained Barlin's role was only to deliver goods, not sell them.Barlin owned no trucks and employed no drivers; it paid couriers such as DHL to collect parcels from a Sports Direct warehouse, the newspaper reported.Companies are generally required to give details of dealings they have with related parties.Sports Direct said its auditors, Grant Thornton, had found no disclosure was required in relation to Barlin.
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21 Oct 2019 18:14

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21 Oct 2019 17:19

Sports Direct International Walks Away From Goals Soccer Centre Offer

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14 Oct 2019 16:58

LONDON MARKET CLOSE: Pound Slips On Brexit Jitters As EU Summit Looms

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14 Oct 2019 16:45

Sports Direct Takes Aim At Adidas For Product Restrictions Measures

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7 Oct 2019 11:36

Sports Direct Will Not Close House Of Fraser Stores After Christmas

Sports Direct Will Not Close House Of Fraser Stores After Christmas

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7 Oct 2019 11:09

Sports Direct denies report it's closing HoF stores

(Sharecast News) - Mike Ashley's Sports Direct said on Monday that it is not planning on closing a large number of House of Fraser stores in the new year.

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4 Oct 2019 09:23

Britain's John Lewis withholds service payments to landlords

LONDON, Oct 4 (Reuters) - British department stores group John Lewis has told shopping centre landlords it will withhold 20% of this quarter's service charge as it seeks to cut costs, it said on Friday.The move, first reported by the BBC, highlig...

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1 Oct 2019 14:01

FTSE 250 movers: Pets at Home climbs, Greggs retreats

(Sharecast News) - London's FTSE 250 was 0.25% higher at 19,987.47 in afternoon trade on Tuesday, with Pets at Home leading the index upwards.

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1 Oct 2019 09:16

TOP NEWS: UK CMA Sends JD Sports Buy Of Footasylum To Phase 2 Probe

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30 Sep 2019 09:58

Goals Soccer Centres Shares Cancelled Amid Ongoing HMRC Talks On VAT

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23 Sep 2019 07:04

Sports Direct makes ?4m cash offer for Goals Soccer Centres

(Sharecast News) - Sports Direct waded back into the takeover market on Monday with a discounted £4m cash offer to buy out scandal-hit Goals Soccer Centres.

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20 Sep 2019 09:17

Britain's Sports Direct says JD Sports probe could have impact for major brands

LONDON, Sept 20 (Reuters) - British sporting goods retailer Sports Direct said on Friday an antitrust investigation into rival JD Sports Fashion's takeover of Footasylum could have implications for the sector's major players, particularly their r...

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20 Sep 2019 08:22

Sports Direct weighs in on JD Sports/Footasylum deal

(Sharecast News) - A day after the competition watchdog said that JD Sports' proposed acquisition of Footasylum could be referred for an in-depth investigation, Sports Direct weighed in, arguing that a probe could have "wider market implications".

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19 Sep 2019 15:04

FTSE 250 movers: IG Group climbs, Dunelm drops

(Sharecast News) - London's FTSE 250 was 0.15% higher at 20,083.88 in afternoon trade on Thursday, with IG Group leading the index higher.

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12 Sep 2019 14:40

FTSE 250 movers: IP Group drops, PureTech climbs

(Sharecast News) - London's FTSE 250 was down by 0.26% to 19,929.91 in afternoon trading on Thursday, with IP Group leading the index lower.

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