Thousands of jobs endangered by Sports Direct tycoon Mike Ashley as he buys retailers

Thousands of jobs endangered by Sports Direct tycoon Mike Ashley as he buys retailers

Thousands of jobs threatened by Sports Direct tycoon Mike Ashley as he deals with the highly competitive retailers

City & Finance reporter for the Daily Mail

Thousands of jobs were jeopardized by sports director Mike Ashley, sporting directors, as he snapped up bulky retailers, it was claimed.

According to The Sunday Telegraph, more than 6,000 jobs are threatened by the billionaire's controversial pre-pack management business.

Pre-pack deals allow buyers to take over companies without debt.

Controversial: More than 6,000 jobs have been threatened by the use of pre-pack administrative arrangements by Mike Ashley

Controversial: More than 6,000 jobs have been threatened by the use of pre-pack administrative arrangements by Mike Ashley

Controversial: More than 6,000 jobs have been threatened by the use of pre-pack administrative arrangements by Mike Ashley

It comes after Sports Direct collapsed with Evans Cycles last week when it came under management. Ashley, 54, plans to keep half of the 62 Evans outlets open, putting 650 jobs at risk.

Although he saved many jobs by rescuing a large number of jobs, his purchase of £ 90 million from House of Fraser is expected to close a dozen of his 59 stores and endanger approximately 2,300 jobs.

The purchase of retailers, including the lingerie brand Agent Provocateur and the fashion brands USC and Firetrap, resulted in thousands more job losses.

It is believed that Sports Direct also struggles with Debenhams, of which Ashley already has a share of nearly 30 percent.

Sports Direct did not respond to requests.

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