Sports Direct exec Murray: We’re not in crisis

3028041 sports direct exterior

Sports Direct executive Michael Murray has insisted the group is “definitely not a business in crisis” despite increasing doubts over its strategy.

Murray, who is Sports Direct’s head of elevation and the son-in-law of chief executive Mike Ashley, was speaking just 24 hours after the retailer struck a £12.8m deal to rescue Jack Wills out of administration.

It was the latest in a string of distress purchases, including the likes of Evans Cycles, Sofa.com and House of Fraser.

Ashley admitted problems in the department store chain were “terminal” during its half-year results presentation last month, which was delayed after a shock £605m tax bill from the Belgian authorities.

But despite the problems encountered at House of Fraser, Murray said Sports Direct will continue to look at acquisitions when opportunities arise.

Subscription content

Please sign in now if you have a subscription

Retail Week

Register to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • 3 free articles a month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.