Mike Ashley’s Frasers Group sells shares in Asos following Topshop spike Retail Frasers Group, the retail empire controlled by Mike Ashley, has lowered its stake in fast-fashion giant Asos. The Mansfield-headquartered group, which owns the likes of Sports Direct and House of Fraser, has decreased its holdings in Asos from 24.3 per cent to 21.1 per cent, according to a new filing with the London Stock Exchange. [...]
Asos slashes £500m debt pile as refinancing deals revealed Retail Asos has announced the successful refinancing of the majority of its £500m debt due in 2026, with only just over £70m outstanding. The online fast-fashion retailer, which has struggled with post-pandemic shopping trends, had £500m in convertible bonds due 2026. The London-headquartered company has now exchanged £253m into convertible bonds due in 2028 rather than [...]
How Asos’ post-pandemic debt led it to sell Topshop Retail Three years after buying the British high street brands Topshop and Topman from Phillip Green’s collapsed Arcadia empire, Asos has said it will sell 75 per cent of its stake in the brands to a joint venture with Heartland. Asos bought the brands at a buoyant time for the company when its stock was near [...]
Asos sells Topshop and Topman into new joint venture with Heartland September 5, 2024 Online clothing retailer Asos has launched a joint venture with Heartland, whereby Heartland will buy the Topshop and Topman brands from the firm. Asos bought the two brands, along with Topman, Miss Selfridge and HIIT, in 2021 from Philip Green’s collapsed Arcadia group for £265m (excluding stock). The joint venture will grant Asos “certain design [...]