Sports Direct chief executive Mike Ashley has hit out at advisors to the Debenhams department store chain after it confirmed that its bondholders have agreed to change the terms of some of their bonds to enable it to move a step closer to securing a £200 million loan from its existing lenders.
Sports Direct has revealed that it may make a £61.4 million all cash offer for the struggling Debenhams department store chain.
Following Debenhams’ announcement that it is in advanced talks with its lenders regarding additional loans of around £150 million, Sports Direct has said it would be willing to make an alternative proposal and provide the department store with a £150 million interest free loan.
Sports Direct has requisitioned a general meeting of the Debenhams department store chain in a bid to remove all current members of the retailer’s board except for Rachel Osborne.
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