Asos and Boohoo stick to US closures despite Trump tariffs April 8, 2025 Asos is to continue with its plan to close its distribution centre in Georgia, USA, and serve the country from Yorkshire despite the imposition of President Donald Trump’s tariffs. At the start of the year, the fast-fashion group announced plans to close its US base in another effort to boost profitability and streamline operations. The [...]
UK retailers respond to Trump tariffs: ‘The timing couldn’t be worse’ April 4, 2025 Retail bodies and tax advisers have warned that Trump’s tariffs come at a dire time for UK retail, saying price rises are “inevitable”. US President Donald Trump announced a 10 per cent tariff on goods from the UK on 2 April, and a range of higher tariffs on many of the countries retailers manufacture goods [...]
Frasers Group set to accuse Boohoo of undisclosed payments to founder’s son January 22, 2025 Mike Ashley’s Frasers Group is set to open a new front in its war of words with Boohoo this evening, accusing the fast fashion firm of allegedly paying its founder’s son £2m-a-year but failing to tell shareholders, CityAM has learned. In the latest attack of a long-running spat between the two companies, Frasers is [...]
‘We need to get back to our very best’: Boohoo boss vows to make 2025 a ‘year to remember’ January 22, 2025 The chief executive of fast-fashion giant Boohoo has said the group “needs to get back to our very best” as he vowed to make 2025 “a year to remember”. Daniel Finley was speaking a day after shareholders voted to keep co-founder Mahmud Kamani on its board in another blow to Mike Ashley’s Frasers Group. But [...]
Boohoo shareholders shun Frasers and vote to keep co-founder Kamani on board January 21, 2025 Boohoo shareholders have voted two to one against a resolution proposed by Mike Ashley’s Frasers Group to remove co-founder and vice chair Mahmud Kamani as a director of the fast-fashion giant. Four fifths of shareholders took part, and two thirds of participating shareholders voted to retain Kamani on the board of the Manchester-headquartered company. In a statement, [...]
Proxy adviser backs Boohoo vice chair in Mike Ashley row January 9, 2025 Proxy voting adviser Institutional Shareholder Services (ISS) has backed Boohoo in its row with Mike Ashley and Frasers Group, urging shareholders to vote against firing the company’s co-founder and vice chair Mahmud Kamani. In November, Frasers demanded that Kamani be removed as a director of Boohoo, leading the firm to call a general meeting scheduled [...]
Mark Kleinman: Hold the Telegraph front page – then hold it some more December 27, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the Square Mile talking in his weekly CityAM column. This week he tackles the Telegraph bid, Mike Ashley’s failed Boohoo approach and an oil deal in the North Sea I suspect you’d have got long odds on January 1 on the auction of The Daily [...]
Mike Ashley loses vote to join Boohoo board December 20, 2024 Mike Ashley has lost his bid to become a board member of fast-fashion giant Boohoo, which his Frasers Group is the largest shareholder. More than 63 per cent of votes were cast against the appointment of the billionaire at a general meeting in Manchester. Almost the same number of votes were also cast against Michael [...]
Boohoo’s money troubles increase as bidder for London office walks away December 15, 2024 Boohoo has suffered another financial setback after an Israeli bidder pulled out of talks to buy its London office. The company was set to sell its Soho office for £60m to cover a looming debt repayment of £47m due in August 2025. The fast-fashion company bought the property for £72m in 2021. The news comes [...]
Boohoo floats board seat to Frasers – as long as it’s not for Ashley or Lennon December 13, 2024 Boohoo's board has floated an olive branch to Frasers today with the offer of a board seat, but only if Mike Ashley or Mike Lennon are not the candidates put forward.