Mike Ashley urges MPs to look into Debenhams collapse
Mike Ashley has redoubled his efforts to have the collapse of Debenhams investigated and lambasted MPs for not being more interested in the failure of the high-street department store.
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In a letter to business select committee chair MP Rachel Reeves, seen by the Guardian, Ashley contrasted the situation with the investigation into the collapse of Thomas Cook.
Ashley has previously said that the collapse of Debenhams, in which his Sports Direct group held roughly a 30 per cent stake worth around £150m, deserves investigation. Sports Direct has suggested the sale of Debenhams to US hedge funds should be the focus of a probe.
In his letter to Reeves, Ashley wrote: “No one in parliament seems sufficiently interested about the Debenhams failure.”
He added: “It is very apparent that a head of steam is developing in the media and in the electorate that they will not tolerate these sorts of situations any longer, where businesses and advisers profit from playing the system at the expense of others.”
Ashley accused politicians of only looking into cases where their reputations could be damaged, such as Thomas Cook and Carillion.
He said MPs ignored “cases which are just as bad if not worse” such as Debenhams, Goals Soccer Centres and House of Fraser. Ashley’s investments in each of these companies have done badly.
The Newcastle United owner said MPs should “take immediate steps in relation to the Debenhams situation, as we had previously invited and encouraged you to do”.
A Debenhams spokesperson said: “It is wrong and irresponsible to compare Debenhams with cases such as Thomas Cook or Carillion. Despite the repeated efforts of Sports Direct to destabilise the business, Debenhams continues to trade and employ 25,000 people under supportive new owners who are investing substantial sums to ensure a sustainable future.”
(Image credit: Getty)