Mike Ashley has criticised Debenhams’ board for not giving serious consideration to his proposal of buying Danish business Magasin du Nord.
The Sports Direct chief, who owns just under 30% of Debenhams, tabled a £100m offer for the Danish business last week — the latest in a series of desperate moves by Ashley to take control of the restructuring talks. These now look set to hand control of Debenhams to its lenders.
The retailer was barely able to afford a £50m rent bill this month, after sales slumped and credit insurers pulled cover to its suppliers.
