E Point Perfect

Frasers Group boss Michael Murray vows to build bridges with the City


Frasers Group
// Frasers Group boss Michael Murray promises to rebuild bridges with the City
// Murray said Frasers will “increase efforts” to shore up relations with analysts and investors

Frasers Group boss Michael Murray has pledged to rebuild bridges with the City after taking over from his billionaire father-in-law Mike Ashley.

Murray is married to Mike Ashley’s daughter Anna and became chief executive of Frasers Group in May.

He said at the time that Frasers Group would be “increasing its efforts” to shore up relations with analysts and investors.

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Frasers will have a capital markets day, where shareholders can meet bosses and hear more about a firm’s plans.

Ashley repeatedly drew criticism from City figures over his management of the group.

His company also lost millions on a series of investments in firms which went bust, including Debenhams.

Shares climbed 5.4%, or 44p, to 856p.

Last week, Mike Ashley stepped up a legal battle over the collapse of department store chain Debenhams as he swooped in on a bid for Savile Row tailor Gieves & Hawkes.

The Frasers Group tycoon is going to court after his £180 million stake in the retailer became worthless following its collapse two years ago.

According to The Mail on Sunday, a trial over the collapse will take place in May, with Ashley’s lawyers accusing administrators at FRP Advisory of a “criminal offence” in their dealings with him.


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