Mike Ashley pumps further £4m into Boohoo amid market turmoil at fast fashion giant

Frasers founder has grown his stake at clothing retailer to 7.8 per cent from initial investment in June

Mike Ashley: Retail titan has invested £40 million into flailing Boohoo since June. Picture: Getty

Mike Ashley, one of the biggest names in British high street retail, has continued to build his stake in Boohoo, the fast-fashion company run by Offaly man John Lyttle.

Ashley’s Frasers Group has now pushed its stake to 7.8 per cent, having bought 13 million shares at a price of around £4.5 million.

The Fraser Group bought an initial stake in the company in June for £22 million (€25.6 million), when the shares were worth ...