Oct 2nd, 2015
Direct Golf gets the Mike Ashley Treatment
Locks changed at DG HQ
Words: The Brigadier Photography: Getty Images
Sports Direct has been accused of intimidating the founder of the UK’s second largest golfing business after the Mike Ashley controlled sportswear company changed the locks on Direct Golf’s offices without warning.
The allegations are part of a bloody battle for control of the business between Direct Golf's founder, John Andrew, and Mike Ashley, owner of Sports Direct and Newcastle FC.
Sports Direct bought a stake in Direct Golf, but in July Direct Golf reported a 48.5pc slide in pre-tax profits to £329,000 and said that sales had fallen by almost 13pc to £20.8m. After consulting with advisers at restructuring firm Begbies Traynor, John Andrew filed a notice of administration in a court in Leeds on Thursday afternoon.
However, he alleges that overnight Sports Direct, of which Mr Ashley is deputy chairman, filed wind-up proceedings to “gazump” Begbies Traynor’s appointment in favour of doing a pre-pack deal with its own firm of administrators.