Sports Direct owner Mike Ashley has reacted to Debenhams’ bondholders last night agreeing to change the terms of some of their bonds to bring the department store chain closer to a £200m refinancing deal.
“Now the results of the vote are known and we have also been subsequently advised that the supportive HSBC are no longer part of Debenhams RCF, I think that if there were any justice in the world the majority of the advisers would be put in prison,” he said in a statement.
See also: Sports Direct considers making £61m offer for Debenhams
If Debenhams can clinch the deal it would also enable a broader restructuring to progress that could wipe out its shareholders, which would be a blow to Ashley’s Sports Direct as it currently has a stake of nearly 30%.
The retailer has said if it pursues some of the paths open to it in its restructuring it could result in there being no equity value for the its current shareholders.
To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette
