Sep 11, 2019

Ashley opposed by 9% of Sports Direct shareholders

Sports Direct shareholders have registered unhappiness with founder Mike Ashley, voting in large numbers against his re-election as director. Sports Direct is under pressure to appoint a new auditor, but shareholders were told no decision had been made. Mr Ashley has been criticised for a spending spree which has seen the Sports Direct buy numerous struggling retailers. Sports Direct later said it regretted the acquisition, describing problems at House of Fraser as "Nothing short of terminal". Shares in Sports Direct are down by about 25% in a year, and suffered a big drop in July after the Belgian government claimed Sports Direct owed it €674m in taxes.

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