Sports Direct reissues its demand for Mike Ashley to be given a top job at Debenhams
Sports Direct has today requested a general meeting of Debenhams to eject the board and give Mike Ashley an executive role at the struggling retailer.
The requisition replaces an earlier demand which was invalid because Sports Direct was holdings its shares at that period through a third party nominee.
Read more: Debenhams pressure mounts amid Sports Direct comments
“Sports Direct would like the matter of Debenhams board appointments to be put to the vote of the Debenhams shareholders as soon as possible,” the retailer said in a statement.
Earlier this month, Sports Direct made a shock bid to chuck out the Debenhams board and install its billionaire owner Mike Ashley in an "executive role" at the embattled retail chain.
Ashley, who owns Sports Direct, said he would step down as director and chief executive of Sports Direct if he were given a senior position at Debenhams.
Ashley holds just under 30 per cent of Debenhams’ shares.
Debenhams, which is currently embarking on a restructuring in an attempt to save the business, has issued a series of profit warnings causing its share price to crash to less than 3p.
Read more: Sports Direct accuses Debenhams of 'deliberately misleading' the market
Earlier this week Sports Direct’s finance chief Chris Wootton upped the pressure on Debenhams saying that Sports Direct would look to buy the chain if it fell into administration.
A source close to Debenhams hit back calling the comments "self-serving and baseless" and insisting that "Debenhams has outlined a restructuring plan that everyone other than Ashley is relatively happy with".
Sports Direct said it was not asking for chief financial officer Rachel Osborne, who became a director in September 2018, to be removed from the board.
Debenhams declined to comment.