Mike Ashley set to acquire sofa.com

Latest News | Mergers & Acquisitions | Retail

Sports direct owner and prominent businessman Mike Ashley is set to purchase online retailer sofa.com, for an undisclosed sum. Ashley has become known for stepping in and rescuing high street and online retailers in recent years.

Sofa.com became available to buy, after furniture retailer ScS dropped out earlier today. The company initially became available at the start of the year.

The figure for the acquisition has yet to be announced, but it is believed to only be a nominal fee.

Ashley has already bought UK retailers such as House of Fraser, Evans Cycles, and owns almost 30% of Debenhams.

Debenhams themselves had been linked with purchasing sofa.com.

Ashley himself has been linked with some more struggling retailers, such as HMV and Patisserie Valerie.

Sofa.com’s owners LGT European Capital has appointed KPMG to overlook the sale.

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