UK's Ashley Buying In Clothing Chain

Mike Ashley, the very private UK investor whose retail sporting goods assets make him the largest sporting goods retailer in the UK, is buying into Matalana dsocount apparel retailer, Britain's largest discount clothing retailer.

It has more than 190 stores (averaging 22,000 square feet each) selling name-brand and private-label apparel for men, women, and children, as well as some household products, at bargain prices.

According to publshed reports, Ashley has held talks with Matalan about a joint venture that may lead to him taking a large stake in the business. Ashley is said to have drawn up plans for his Sports World banners to be opened above Matalan stores, in specially constructed mezzanine floors. As part of the plan it is thought 41-year-old Ashley would take a stake of up to 25% in the troubled discount retailer.