Debenhams share price crashes as it asks shareholders to risk equity on £200m loan March 22, 2019 Debenhams’ shares tanked this morning as it asked investors to sign off a £200m funding lifeline that could lead to shareholders’ equity being wiped out. Read more: Debenhams on the verge of sealing £200m funding from lenders The £200m funding would prevent the embattled department store chain from falling into the hands of billionaire Mike [...]
Debenhams on the verge of sealing £200m funding from lenders March 22, 2019 Debenhams is close to receiving a £200m lifeline from lenders that would prevent the department store falling into the hands of largest shareholder Mike Ashley. A deal finalising its borrowing facilities, which are larger than expected, could be announced as soon as today, according to Sky News. Read more: Levi shares soar as jeans retailer makes stock market [...]
Findel urges shareholders to take no action following Sports Direct offer March 20, 2019 Home shopping firm Findel has urged shareholders to take no action following a £139m offer by Mike Ashley’s Sports Direct. The board rejected the bid and said Sport Direct’s offer of 161p for each Findel share “significantly undervalues” the company. Read more: Mike Ashley's Sports Direct makes official £139m offer for Findel In a statement [...]
Mike Ashley’s Sports Direct makes official £139m offer for Findel March 19, 2019 Sports Direct has made an official bid for home shopping firm Findel as it sent out an offer document to shareholders. The company, which is currently the firm’s largest shareholder, has offered to buy the rest of Findel’s stock for 161p per share. Read more: Debenhams pressure mounts amid Sports Direct comments Earlier this month [...]
Debenhams pressure mounts amid Sports Direct comments March 18, 2019 The war of words between Debenhams and retail tycoon Mike Ashley escalated once again this morning after Sports Direct’s finance chief confirmed City speculation that it would look to buy the department store chain if it collapsed into administration. Sports Direct’s finance chief Chris Wootton, who could potentially become Sports Direct boss if Ashley takes [...]
Mark Kleinman: Interserve is left to clean up its own mess March 15, 2019 What’s this? A public voting process punctuated by angry disputes about the terms and timing of a deal; feverish talk of ousting the top team orchestrating the agreement; and potentially dire consequences if the vote is blocked. It sounds a lot like events in Westminster, but today might instead mark the denouement of another of [...]
Debenhams considers Mike Ashley’s £150m loan offer March 14, 2019 Debenhams said it will give “careful consideration” to Sports Direct’s proposed £150m loan this morning, after receiving the offer last night. Read more: Sports Direct accuses Debenhams of 'deliberately misleading' the market The struggling department store chain received the 12-month loan offer from billionaire Mike Ashley last night, as the retail magnate accused the board [...]
What’s Mike Ashley’s game with Debenhams? March 8, 2019 | City Talk Mike Ashley is consistent in the way he always manages to surprise us. On Thursday night in a post-market RNS the Sports Direct boss announced he was planning a boardroom cull at Debenhams, installing himself as chief executive officer. Only the recently appointed Rachel Osborne would survive the cull. On Tuesday, after Debs warned on [...]
Debenhams shares bounce back as Mike Ashley launches power grab March 8, 2019 Shares in embattled department store chain Debenhams jumped as much as 25 per cent this morning after Mike Ashley launched an audacious bid to take control of the company. The retail mogul last night demanded an extraordinary general meeting of Debenhams shareholders, calling for all but one of the existing board members to be ousted. Read [...]
Mike Ashley moves to oust Debenhams board and appoint himself as director March 7, 2019 Retail tycoon Mike Ashley has ramped up the pressure on embattled department store chain Debenhams this evening, after making an audacious bid to axe most of the firm’s directors and appoint himself to the board. In a surprise announcement made on the London Stock Exchange tonight, the billionaire magnate pledged to step down from his current role [...]
