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' [...]
DEBATE: Is John Major correct that we need a cross-party government to steer the UK through Brexit? April 2, 2019 Is John Major correct that we need a cross-party government to steer the UK through Brexit? YES, says Ben Kelly, a commentator for Reaction. In the best-case scenario, a “strong and stable” government with a majority, clear priorities, and an overarching strategy would be leading the way on delivering Brexit. Instead, we have a shambolic [...]
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 [...]
Debenhams completes £200m funding round to blow Ashley bid out of the water March 29, 2019 Debenhams completed its £200m refinancing deal this morning, defeating a takeover bid by Sports Direct billionaire Mike Ashley. Read more: Debenhams bondholders back £200m rescue loan in blow to Ashley bid The announcement sent shares up almost 30 per cent as the embattled retailer said shareholders remain in its plans. The move means the department [...]
‘No justice’: Mike Ashley voices anger as Debenhams thwarts his takeover bid March 29, 2019 Mike Ashley has railed against Debenhams’ move yesterday to thwart his takeover offer, saying “if there were any justice in the world the majority of the advisors would be put in prison”. Read more: Debenhams bondholders back £200m rescue loan in blow to Ashley bid The billionaire owns a 30 per cent stake in the department [...]
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 [...]
DEBATE: Could Mike Ashley be the answer to Debenhams’ woes? March 28, 2019 Could Sports Direct boss Mike Ashley be the answer to Debenhams’ woes? John Phillips, general manager (EMEA) of Zuora, says YES. Reversing the fortunes of Debenhams would provide any new boss with a challenge – it is in dire need of modernisation. But Mike Ashley could well be the right man for the job. He has [...]
Footwear chain Dune tables offer to save struggling retailer LK Bennett March 27, 2019 Footwear chain the Dune Group has tabled an offer for LK Bennett as the struggling fashion retailer’s administrators prepare to select a buyer. Dune, which operates 40 standalone stores and 175 concessions in the UK, was one of a handful of potential buyers to submit final bids earlier this week, Sky News reported. Read more: [...]
Debenhams shares skyrocket as Sports Direct mulls £61.4m bid March 27, 2019 The future of Debenhams is up in the air this afternoon as Mike Ashley battles with creditors to take control of the embattled department store chain. The Sports Direct boss and retail tycoon, who owns a near 30 per cent stake in Debenhams, revealed yesterday that he was mulling a £61.4m bid to take full [...]
Debenhams shares soar as Mike Ashley’s Sports Direct considers offer March 26, 2019 Debenhams has doubled down on its major restructuring strategy this morning, saying that it will continue with its plan to obtain funding hours after Sports Direct revealed it was mulling a bid for the embattled department store chain. Read more: Sports Direct mulls cash offer for Debenhams Last night Mike Ashley’s sportswear firm said that [...]