Businessman Mike Ashley launches fresh £111million bid for luxury bag firm Mulberry

MIKE Ashley’s Frasers Group past nighttime launched a caller £111million bid for Mulberry — portion fanning doubts astir the luxury container group’s endurance chances.

The determination came hours aft it emerged Frasers had invested £10million successful online steadfast THG’s currency call.

THG, formerly The Hut Group, raised £95million to money taking its Ingenuity tech portion private.

Mulberry had rejected Mr Ashley’s erstwhile £83million attack successful favour of a £10million fundraising, backed by its biggest ­investor Challice Group, which is controlled by Singapore billionaire Christina Ong.

However, aft the London banal marketplace closed yesterday Frasers, which has a 37 per cent involvement successful Mulberry already, launched a caller 150p-a-share approach.

Mulberry is presently valued astatine £79.9million connected the banal market.

Frasers said it had important reservations that the £10million raised volition beryllium capable to enactment the firm.

Mr Ashley suggested his ownership would “ensure its semipermanent endurance and success”.

He has had hits and misses with investments successful rival retailers — notably Matches Fashion, which went into administration.

Meanwhile, THG brag Matt Moulding had different swipe astatine the London Stock Exchange.

He said: “It’s wide the LSE isn’t a spot for a tech/infrastructure business similar Ingenuity.”

Power push

SCOTTISH POWER is doubling its concern successful Britain from £12billion to £24billion — successful a ballot of assurance for the country.

The business, owned by Spain’s Iberdrola, plans to upgrade high-voltage cables and physique much wind farms to backmost a Government propulsion to chopped UK reliance connected state imports.

Jobs gloomy

THE jobs marketplace has remained successful the doldrums implicit the summer, according to recruiter Hays.

It reported that fees from job placings had dropped by a 5th implicit the past 3 months, with imperishable jobs slumping the most.

Hays is besides cutting its ain workforce by different 200 employees.

Good week

Bad week