Billionaire lashes out as US fund invade UK retail crisis


The billionaire

LOndon: UK retail billionaire Mike Ashley is lashing out after losing a fight with US hedge funds over department store chain Debenhams Plc.

The retail magnate, who made British headlines for power drinking and substandard working conditions at his sporting goods chain, has been blasting Debenhams management and making legal threats since lenders took control on April 9, wiping out his roughly 30% stake.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Trade showing remains on upward trajectory
Maxis pledges full support to government’s 5G delivery model
Fajarbaru Builder secures RM13mil job
MKH Oil Palm IPO oversubscribed
The pros and cons of earned wage access
Making every load lighter
Making the Malaysian startup pitch
How Sin-Kung leveraged air cargo for its success
Domestic office-sector REITs stay cautious
‘Muted optimism’

Others Also Read