May 28, 2019

Sports Direct: Shirebrook headquarters sold for £120m

Sports Direct has confirmed the sale of its headquarters in a £120m deal with a Malaysian pension fund. It comes amid speculation the tycoon is looking to take over further troubled retailers. Sports Direct said proceeds from selling its HQ would be used to boost its working capital and put towards its group operations,. Last week Mr Ashley sold his entire 4.8% stake in struggling online firm Mysal. Over the last year, he has taken over House of Fraser, and Evans Cycles, while Debenhams recently rejected two last-ditch takeover offers from Sports Direct after it went into administration.

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