Sports Direct makes shock bid for Austin Reed! Mike Ashley, the founder of Sports Direct, has reportedly placed a bid to buy the upmarket menswear chain out of administration. Several bidders have submitted offers of around £30m for the entire business. Austin Reed is continuing to operate whilst the administrators try to find a buyer. Ashley is also eyeing BHS, with a view to keep all stores open, claiming he does not anticipate any job losses in stores or at head office. Rumours continue to circulate around other potential bidders including White Stuff, Moss Bros and Joules.