Retail tycoon Mike Ashley's company, Mash Holdings, enters a consultancy agreement with Hornby, the model train company, to improve its financial performance.

Retail tycoon Mike Ashley, founder of Frasers Group, has entered into a consultancy agreement with Hornby, the model train company. Ashley's company, Mash Holdings, will provide consultancy services to Hornby without payment. The agreement aims to help improve the financial performance of Hornby, which announced a £5.1m pre-tax loss in the half-year to September. Ashley's involvement follows Frasers Group's acquisition of an 8.9% stake in Hornby.