Sports Direct accuses Debenhams administrators of conflict of interest April 10, 2019 Sports Direct doubled down on its calls for the administration of Debenhams to be reversed this afternoon, as it mulls potential legal action following Mike Ashley’s failed bid to take control of the retail chain. Lawyers from the sportswear retailer said today that the appointment of administrators and the subsequent pre-pack administration only happened because Ashley’s own [...]
Mike Ashley’s Sports Direct considers legal action against Debenhams after lenders take control April 10, 2019 Sports Direct is considering legal action against Debenhams after the retailer collapsed into administration, wiping out shareholders. Retail tycoon Mike Ashley branded the pre-pack administration a “national scandal” yesterday after he failed to gain control of the department store chain. Read more: Ashley lashes out as Debenhams enters administration Sports Direct’s deputy chief financial officer [...]
Mike Ashley could use a lesson in subtlety after Debenhams April 10, 2019 Britain's leading retail maverick Mike Ashley is known for using intemperate language – but in his reaction to the collapse of long-term target Debenhams yesterday, he excelled himself. Ashley issued a statement in which he savaged politicians and regulators for being “as effective as a chocolate teapot”, and called for advisers on the deal to [...]
‘National scandal’: Mike Ashley lashes out as Debenhams falls into clutches of lenders April 9, 2019 Sports Direct owner Mike Ashley has launched a scathing attack on the board of Debenhams this afternoon as the British high street stalwart fell into administration. Read more: Debenhams falls into administration as lenders take over The billionaire called on authorities to reverse the administration process that started today and reiterated his calls for advisers on [...]
Debenhams falls into administration as Sports Direct fails with £200m equity offer April 9, 2019 Embattled department store chain Debenhams has fallen into the hands of its lenders, entering administration despite an 11th-hour bid from Sports Direct billionaire Mike Ashley to keep it public. Read more: Debenhams shares suspended as it falls into clutches of lenders Although the retailer’s 165 stores will continue to trade, some 50 outlets have already been flagged [...]
Debenhams shares suspended as it prepares to fall into administration April 9, 2019 Debenhams’ shares were suspended this morning as it prepares to go into administration, falling into the hands of lenders after rejecting an improved equity offer from Sports Direct. Read more: Debenhams shares slump as shareholders risk losing everything The Financial Conduct Authority temporarily suspended trading of the under-fire department store “at the request of the [...]
Debenhams shares fall into the red as investors eye deadline for Sports Direct offer April 8, 2019 Debenhams shares dipped five per cent in early afternoon trading today, falling from a 15 per cent rise this morning as the deadline for a pre-pack administration draws near. The embattled department store chain is set to hand ownership to lenders tomorrow if Sports Direct fails to reach an agreement with the retailer by the end [...]
Sports Direct makes £150m offer to underwrite Debenhams in bid to make Ashley CEO April 7, 2019 A bitter and hard-fought battle for control of one of Britain’s oldest department store chains descended into farce last night as Mike Ashley tussled with Debenhams to prevent the retailer from entering into a pre-pack administration. In his latest efforts to ramp up pressure on the chain’s board, the Sports Direct owner last night accused [...]
Mike Ashley makes legal threat as Debenhams deadline beckons April 6, 2019 Sports direct owner Mike Ashley has suggested he could take legal action against directors at Debenhams as the deadline for him to make a formal bid for the struggling department store chain approaches. Ashley has until April 8 to make that bid but as the chance of his participation in a rescue deal decreases, he [...]
Moody’s downgrades Debenhams, warning outlook remains ‘negative’ April 4, 2019 Troubled retailer Debenhams suffered a fresh blow this afternoon after being downgraded by credit ratings agency Moody’s. Read more: Sports Direct calls on Debenhams investors to protest against finance deal The department store chain’s rating has been cut from Caa1 to Ca, with Moody’s saying that the group's outlook remained "negative". "We have downgraded Debenhams' [...]