REUTERS: Sports Direct chief Mike Ashley has offered to underwrite a 150 million pound rights issue at Debenhams on condition he is named CEO of the British department store chain, the Financial Times reported on Saturday, citing two sources.
Debenhams secured 200 million pounds in new funds last week but warned that shareholders still face being wiped out unless it secures financial support from Sports Direct, which holds a near 30 percent stake.
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Source: The Straits Times - 🏆 8. / 63 Read more »