Sports Direct’s owner Mike Ashley has reacted rather curtly to Debenhams decision to turn down his offer of investment as can be seen from the letter below.
EXCLUSIVE: here’s the letter Mike Ashley sent Debenhams boss pic.twitter.com/a0B7kxFqhY
— Ashley Armstrong (@AArmstrong_says) December 13, 2018
Obviously, things are not going well for any high street retailer and given that Mike Ashley owns nearly 60% of the equity it seems strange that they are turning down a £40m interest-free loan. He may be wanting more equity down the line but that could be the difference between surviving the dead zone which is January and February or adding to the misery in retail by becoming yet another high profile casualty. The next few days could be interesting.
