Doncaster Sports Direct boss close to takeover deal for Savile Row tailor Gieves and Hawkes

The firm is understood to be in advanced talks to buy the 251-year-old firm, according to Sky News.

The retail giant, founded by Mike Ashley, emerged as a potential buyer of the London outfitters in September.

It is one of the world's most famous fashion addresses and is one of the oldest bespoke tailoring companies but has faced uncertainty ever since its Hong Kong-based owner collapsed into liquidation last year.

Retail billionaire Mike Ashley has been one of the High Street's most prominent and colourful figures since founding his business 40 years ago.

Mr Ashley recently stepped down from the board of Frasers Group but remains the group's controlling shareholder.

He had already handed over the running of the group to his son-in-law Michael Murray earlier this year.

Frasers boss Michael Murray is the son of Doncaster property and business magnate Mick Murray, who set up the all-conquering Doncaster-based Lazarus Properties with business partner Lloyd Nicholson in 1997.

The firm is one of the town's best known and owns prime residential and commerical buildings across the region as well as London.

Mr Murray, married to Mr Ashley's daughter Anna, took over the running of the firm in 2021.

He set up an events company with pal Toby Mullins, 26, after they were students at Reading University. Their club nights, where tickets cost £5 and revellers down cheap booze have proved popular in the Berkshire town.