Debenhams owners to outline plans to shut 20 stores April 23, 2019 Debenhams is poised to outline plans this week to bring forward the closure of 20 of its stores, according to Sky News. The new owners of the department store chain, which include Barclays and hedge fund Silver Point, will launch a company voluntary arrangement (CVA) in the next 48 hours that will allow it to [...]
Mike Ashley among Debenhams shareholders wiped out April 18, 2019 By Graeme Evans from interactive investor. One of the most intriguing City soap operas is over for investors as lenders seize control of Debenhams. The fight for survival at Debenhams (LSE:DEB) stores goes on, but for investors the suspension of shares signalled the final act in a grim 13 years of stock market trading. The [...]
Sports Direct takes another swipe at Debenhams in share buyback April 11, 2019 Sports Direct took a further swipe at Debenhams this morning amid growing speculation that Mike Ashley is mulling legal action to remove the retailer’s current administrators. Read more: Mike Ashley considers legal action against Debenhams In a note to the London Stock Exchange the sportswear group announced a new share buyback programme, which it said was [...]
Sports Direct accuses Debenhams administrators of conflict of interest April 10, 2019 Sports Direct doubled down on its calls for the administration of Debenhams to be reversed this afternoon, as it mulls potential legal action following Mike Ashley’s failed bid to take control of the retail chain. Lawyers from the sportswear retailer said today that the appointment of administrators and the subsequent pre-pack administration only happened because Ashley’s own [...]
Mike Ashley’s Sports Direct considers legal action against Debenhams after lenders take control April 10, 2019 Sports Direct is considering legal action against Debenhams after the retailer collapsed into administration, wiping out shareholders. Retail tycoon Mike Ashley branded the pre-pack administration a “national scandal” yesterday after he failed to gain control of the department store chain. Read more: Ashley lashes out as Debenhams enters administration Sports Direct’s deputy chief financial officer [...]
‘National scandal’: Mike Ashley lashes out as Debenhams falls into clutches of lenders April 9, 2019 Sports Direct owner Mike Ashley has launched a scathing attack on the board of Debenhams this afternoon as the British high street stalwart fell into administration. Read more: Debenhams falls into administration as lenders take over The billionaire called on authorities to reverse the administration process that started today and reiterated his calls for advisers on [...]
Moody’s downgrades Debenhams, warning outlook remains ‘negative’ April 4, 2019 Troubled retailer Debenhams suffered a fresh blow this afternoon after being downgraded by credit ratings agency Moody’s. Read more: Sports Direct calls on Debenhams investors to protest against finance deal The department store chain’s rating has been cut from Caa1 to Ca, with Moody’s saying that the group's outlook remained "negative". "We have downgraded Debenhams' [...]
Findel says it has backing of major shareholder in blow to Ashley bid April 1, 2019 Online shopping specialist Findel claimed today that it had the support of its second largest shareholder, as it looks to see off a takeover bid from Sports Direct. In the latest blow to retail tycoon Mike Ashley, the British home shopping company published a letter of support from Schroders, which controls an 18.85 per cent [...]
Philip Day steps back from race to buy collapsed high street shoe store LK Bennett March 31, 2019 Philip Day, the billionaire owner of retailer Edinburgh Woolen Mill, has removed himself from the competition to buy collapsed shoe seller LK Bennett. The retail tycoon had lodged a bid with administrators at EY, joining Sports Direct boss Mike Ashley, as well as Chinese fashion entrepreneur Rebecca Feng and former LK Bennett chief executive Darren [...]
Bondholders back Debenhams for £200m restructuring loan in blow to Mike Ashley bid March 28, 2019 Debenhams moved one step closer to carrying out its major restructuring plan this morning after revealing that it has secured the support of bondholders. In what could be a major blow for retail tycoon Mike Ashley, who is currently mulling his own bid to buy the company and prevent his 30 per cent stake from [...]