Sports Direct boss Mike Ashley rekindles interest in Debenhams
Mike Ashley revives long-standing attempts to buy Debenhams department store chain
Mike Ashley has revived his long-standing attempts to buy the Debenhams department store chain.
The Sports Direct mogul saw his 30% stake wiped out along with other shareholders when lenders took over.
Back in the hunt: Mike Ashley tries again to acquire Debenhams after his “light” administration in April
Now the 56-year-old is trying to take over the company again after it was placed under “light” administration in April.
Ashley is bidding for Debenhams – which has 120 stores and 120,000 employees – via an auction, the Sunday Times reported.
He wants to open Sports Direct dealerships in his stores and convert some of them into Frasers points of sale.
Debenhams is owned by private equity firms, among other investors.