Get some decency, man!Simon Adams, do your research before you slag off the wrong company/person.
The Telegraph values your comments but kindly requests all posts are on topic, constructive and respectful. Mr Ashley said regulators had been as effective as a chocolate teapot. To help you cope with disruption, we've put together an eBook offering 8...This website uses cookies to improve your experience. {{#sender.isSelf}} Due to the sheer scale of this comment community, we are not able to give each post Businessman and Newcastle United owner Mike Ashley has failed in a bid to trigger an investigation into the financial affairs of struggling department store chain Debenhams. You need to be a subscriber to join the conversation. There are also gains to be made by keeping House of Fraser and Debenhams separate, he noted, such as distribution savings. Mike Ashley owns more than 60% of Sports Direct Image copyright PA Image caption Mike Ashley owns more than 60% of Sports Direct Previous attempts by Sports Direct to install Mr Ashley as Debenhams chief executive have been rejected. "As normal, politicians and regulators fiddled whilst Rome burnt," he said. Debenhams has finally fallen into administration after a long battle with Sports Direct’s Mike Ashley, who had been scrambling to avoid his stake being wiped out. We know 2020 has been a challenging year for workplaces around the world. "As part of an already agreed £200m refinancing plan, the lenders will now provide £99m of financing to support Debenhams’ balance sheet before negotiating a further debt-for-equity swap.The move will wipe out Debenhams’ shareholders, including Mr Ashley, who had spent more than £150m building his 29.9pc stake.The sportswear tycoon first started buying options in the retailer in 2014 amid hopes it would give him greater control to put more Sports Direct concessions in Debenhams’ stores.Last weekend the Sports Direct founder threatened legal action against Mr Duddy and director David Adams and demanded they take lie-detector tests to verify his version of events.Insiders close to Debenhams say the board had given Sports Direct several chances, but the lenders had balked at Mr Ashley’s insistence on becoming chief executive before providing any financing.
"Indeed, Mike Ashley's score for example was so significantly high as to be considered rare in comparison to others," the statement said. Kantar’s Mr Pinkerton offered a more positive take on the share movement, and said it could be a reflection of the fact that Debenhams stands to pick up more customers from the But, he added, it could also be “a reaction to the long term potential of Debenhams becoming a bigger part of Mike Ashley’s retail empire”. Please “There were fears they would give him the keys to the castle and he would change the locks,” they said.It is understood that Debenhams’ new owners will continue to work on a CVA to close at least 50 stores, although it is understood all shops will be kept open until the New Year to trade over the peak Christmas shopping period.Debenhams can trace its roots back to 1778 when William Clark opened a drapers shop selling bonnets, gloves and parasols. Debenhams: Mike Ashley funding legal challenge to ‘eliminate store as a competitor’, court hears. There are no Independent Premium comments yet - be the first to add your thoughts ""However, this transaction will allow Debenhams to continue trading as normal; access the funding we need; and proceed with executing our turnaround plans whilst delevarging the group's balance sheet," he said.
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