As ‘golden hellos’ go, this is impressive. Michael Murray, the incoming CEO of Frasers Group has been awarded a near-£21 million consultancy fee as he prepares to take over from founder Mike Ashley on 1 May.
Next has opened its first department store-style location with an upsized opening in the Atria centre in Watford. The new store brings together its clothing and homewares offers, plus beauty and Victoria’s Secret.
Frasers Group has been on a full-speed setting of late. Having just bought Studio Retail, upped its stake in Hugo Boss and opened a Flannels flagship in Preston, its luxury fashion banner is again a focus of attention.
Studio Retail only appointed administrators this week but it’s already been sold. And the new owner is Frasers Group. The Mike Ashley-led retail giant already owned an almost-30% stake pre-administration