Sports Direct tycoon Mike Ashley has torn into Debenhams executives, accusing the board "falsehoods and denials" after tabling a £150m (€174m) rescue offer. Sports Direct tycoon Mike Ashley has torn into Debenhams executives, accusing the board "falsehoods and denials" after tabling a £150m (€174m) rescue offer. Mr Ashley has a near-30pc stake in the department store but faces wipeout if the department store presses ahead with a £200m (€232m) refinancing plan announced in March. One option allowed Mr Ashley to make a takeover offer which included arrangements to refinance the group's debt. If Mr Ashley's overtures are rebuffed, Debenhams is likely to go into administration this week with its lenders seizing control.

Source: Irish Independent April 08, 2019 06:56 UTC