Apr 6, 2019
Debenhams: Mike Ashley says make me boss for £150m
PA Retail tycoon Mike Ashley has offered a £150m cash injection to ailing retailer Debenhams - as long as he can become its chief executive. Last week, the retailer challenged Mr Ashley to table a firm takeover offer or abandon his attempt to take control and provide funding instead. Debenhams has refused to comment on the offer. Days before a lender-imposed deadline is due to expire, Sports Direct has offered to underwrite £150m of new equity funding for the retailer but only if Mr Ashley becomes chief executive and £148m of debt is written off by lenders, who include banks and hedge funds. "Sports Direct's letter to Debenhams states:"Mr Ashley's appointment would immediately relieve any pressure on the company's supply chain and he would be in a position to lead the restructuring of the company's stores and operations. PA. Previous attempts by Sports Direct to install Mr Ashley as Debenhams chief executive have been rejected.
Make a complaint about Debenhams or Sports Direct by viewing their customer service contacts.