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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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9 Apr 2019 16:47

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9 Apr 2019 16:09

Sports Direct extends Findel offer deadline

(Sharecast News) - Mike Ashley's Sports Direct has upped its holding in Findel and extended its offer for the home shopping company.

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9 Apr 2019 12:21

Debenhams calls in administrators, operations sold to lenders

(Sharecast News) - Debenhams called in the administrators just before midday on Tuesday, with the entire underlying operating company immediately sold to the departments store group's lenders.

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9 Apr 2019 12:08

UPDATE: Debenhams Appoints Administrators, Group Sold To Lenders

LONDON (Alliance News) - Debenhams PLC on Tuesday said it has appointed administrators for the group but operating companies will continue to trade as normal.The struggling department store

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9 Apr 2019 11:57

LONDON MARKET MIDDAY: FTSE 100 Edges Higher Amid Investor Caution

LONDON (Alliance News) - The FTSE 100 moved off some early lows on Tuesday to trade in the green by midday, as investors look ahead to events such as the European Central Bank meeting and the of -

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9 Apr 2019 08:56

LONDON MARKET OPEN: Pound Rises As PM May Seeks To Delay Brexit

LONDON (Alliance News) - Stocks in London were lower on Tuesday as UK Prime Minister Theresa May headed for top-level Brexit talks in Berlin and Paris.The FTSE 100 was down 13.39 points, or 0.2%,

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9 Apr 2019 07:48

LONDON MARKET PRE-OPEN: Sports Direct Revises Offer For Debenhams

LONDON (Alliance News) - Stock prices in London are seen opening lower on Tuesday with investors taking a cautious approach ahead of key events lined up for later in the week.In company news, made

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9 Apr 2019 07:26

Debenhams lenders rebuff improved Sports Direct proposal

(Sharecast News) - Mike Ashley's Sports Direct made an improved proposal to Debenhams on Tuesday morning, offering to underwrite a larger rights issue and reducing its demands for lenders to write off debt.

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8 Apr 2019 16:53

LONDON MARKET CLOSE: Five-Month Oil High Tips FTSE 100 Into Green

LONDON (Alliance News) - The FTSE 100 ended just about in the green on Monday as the price of Brent crude strengthened to a five-month high, allowing the blue-chip index to rebound from some early

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8 Apr 2019 12:00

LONDON MARKET MIDDAY: Gold Helps FTSE 100 Overcome Sluggish Start

LONDON (Alliance News) - The FTSE 100 got off to a slow start to the week on Monday, but London's blue-chip index managed to scrape back some early losses and edge into positive territory by a

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8 Apr 2019 08:51

LONDON MARKET OPEN: Debenhams Rises As Sports Direct Offers Rescue

LONDON (Alliance News) - Stock prices in London were lower early Monday following mixed trading sessions in Japan and China, though Debenhams shares rose after Sports a to

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8 Apr 2019 07:53

Debenhams rejects Sports Direct offer to underwrite rights issue

(Sharecast News) - Debenhams was on course to be put into administration within 24 hours as it rejected an offer from Sports Direct boss Mike Ashley to underwrite a £150m rights issue.

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8 Apr 2019 07:47

LONDON MARKET PRE-OPEN: Sports Direct Offers To Rescue Debenhams

LONDON (Alliance News) - Stock prices in London are seen opening in the red on Monday tracking Asian equity markets lower despite better-than-expected jobs data in the US on Friday and a report of

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