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Mike Ashley’s Frasers Group makes £83m offer for handbag maker Mulberry


Sports Direct owner looks to up 37% stake to 100% amid concerns for future of cash-strapped fashion firm

Mike Ashley’s Frasers Group has filed a possible £83m offer to buy the luxury brand Mulberry as it expressed concerns about the future of the British handbag maker. It said it was making an offer for the rest of Mulberry after the luxury brand announced an emergency £10.75m placing of shares to prop up the balance sheet late on Friday. In a statement issued on Monday, Frasers said it would “not accept another Debenhams situation where a perfectly viable business is run into administration”.

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Frasers Group

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Mike Ashley