Mike Ashley seeks to remove Debenhams board

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Mike Ashley seeks to remove Debenhams board
United Kingdom Latest News,United Kingdom Headlines
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If Sports Direct boss took charge at Debenhams he would step down from his roles at the chain he founded.

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Sports Direct has said it want to remove all the current members of the Debenhams board except one, and appoint its boss Mike Ashley to run the business.The department store chain said it was"disappointed that Sports Direct has taken this action".The struggling department store, which has 165 stores and employs about 25,000 people, reported a record pre-tax loss of £491.5m last year and said more recently that sales had fallen sharply over Christmas.

Tuesday's profits warning followed three which Debenhams issued last year. It also said in October that it plans to close 50 stores, putting 4,000 jobs at risk, over the next three to five years.. Sergio Bucher remained as chief executive of Debenhams but no longer sits on the board.

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