Mike Ashley’s retail group says it ‘remains concerned about governance’ at luxury brand after final bid rejected

Mike Ashley’s Frasers Group has criticised the management of Mulberry as it walked away from its attempts to take over the luxury handbag maker after a series of rejected offers.

Frasers, which is Mulberry’s second-largest shareholder with a 37% stake, had made several offers for the fashion brand, culminating in a £111m bid this week, all of which have been rebuffed.