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Mike Ashley’s private investment vehicle Mash could be struck off


Mike Ashley
// Mike Ashley’s private investment firm Mash Holdings was issued a notice by Companies House for failing to file its accounts
// Companies House has threatened to strike off Ashley’s private investment vehicle

Mike Ashley’s private investment firm Mash Holdings could be struck off after failing to file its accounts.

Companies House has issued Mash Holdings with a notice, threatening to strike off Ashley’s private investment vehicle for failing to submit its accounts by its April 26 deadline.

The missing accounts should cover the year to April 26, 2021.

READ MORE: Frasers Group snaps up fast fashion business I Saw It First

It is the first of two letters the registrar would have to write to inquire whether a company is still in operation before striking it off the register.

Mash Holdings has a large holding in Frasers Group, which Ashley founded as Sports Direct in 1982.

The FTSE 250 group’s chains include Sports Direct, House of Fraser, Evans Cycles and Flannels, Jack Wills and Game.

It is not the first time Ashley has run into trouble over accounts. The High Court ruled against Sports Direct in 2018 over a request by the Financial Reporting Council to hand over documents the company said were confidential as part of its inquiry into the conduct of Grant Thornton, the firm that audits the company’s accounts.

The company was accused of “obfuscation” and “obstruction” in its approach to the regulator’s investigation.

Mash Holdings’ accounts for the year to April 2020 show Ashley’s interest in Newcastle United football club, which he bought for £135 million in 2007 and sold in October 2021.

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