Buzz People

Ashley backs challenge to Debenhams rescue deal

A deal that saved Debenhams from administration will be challenged in the High Court this week, putting the retailer's future back into doubt.
A commercial landlord - backed by Mike Ashley's Sports Direct group - is fighting the plan which saw Debenhams agree to shut 50 stores and secure rent cuts on others in May.
If successful, it could lead Debenhams to fall back into administration.
The retailer said it was "extremely confident" the action would fail.
Earlier this year, Debenhams fell into the hands of its lenders as part of an administration process, wiping out Mr Ashley's near-30% stake in the company.
Register Now