Log in to update your newsletter preferencesMr Salmon said the move could be down to “a bit of excitement around a possible combination with House of Fraser”, but added that because the company’s stock has fallen significantly over the last year (it is down more than 70 per cent compared to August 2017), price moves can appear to be more significant than they really are. Sports Direct's owner Mike Ashley has written a bluntly worded letter to the boss of Debenhams discussing his offer of a £40m investment in the struggling department store chain. It allows our most engaged readers to debate the big issues, share their own experiences, discuss Kantar’s Mr Pinkerton offered a more positive take on the share movement, and said it could be a reflection of the fact that Debenhams stands to pick up more customers from the But, he added, it could also be “a reaction to the long term potential of Debenhams becoming a bigger part of Mike Ashley’s retail empire”. Meanwhile, Debenhams investors started the week on a cheery note, with shares up more than 8.5 per cent. House of Fraser is more upmarket, putting the two together you would have to compromise.”He pointed out that Mr Ashley has added various businesses to his portfolio without wrapping them into one operator, such as Flannels outlet store. To help you cope with disruption, we've put together an eBook offering 8...This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. "As normal, politicians and regulators fiddled whilst Rome burnt," he said. There are no Independent Premium comments yet - be the first to add your thoughts You need to be a subscriber to join the conversation. "Indeed, Mike Ashley's score for example was so significantly high as to be considered rare in comparison to others," the statement said.Sports Direct called for Debenhams shares to be suspended while the matter is investigated.The department store chain's financiers are considering the offer, according to City sources.Sports Direct, which owns a near-30% stake in the retailer, confirmed its proposals on Monday and set out that it was still In a stock exchange announcement, Sports Direct said it had until 17:00 on 22 April to announce a firm offer or walk away.While both ideas were being considered, it would pursue only one of them in the event it was agreed, it added.Over the weekend, in a letter to Debenhams, the firm said it was "keen to be a supportive shareholder and financier".But the tone of Sunday's comments makes it harder to see how the two sides can come to an agreement, making the planned administration more likely.If that happens, stores, staff and suppliers would not see any immediate change.However, shareholders, including Mr Ashley, would see their stakes in the company wiped out.Under that scenario, Debenhams is planning a restructuring of the business which would lead to the closure of about 50 stores.The retailer will also attempt to get landlords to cut the rent on the remaining sites, in order to make them more profitable under a company voluntary arrangement.The struggling department store, which has 165 stores and employs about 25,000 people, If Mr Ashley's offer is accepted, he would control yet another High Street name.As well as Sports Direct, Mr Ashley runs House of Fraser, Evans Cycles and Flannels.In January, Mr Ashley joined investor Landmark Group to vote the retailer's chairman and chief executive off the board.High Street retailers have been under increasing pressure as more people choose to shop online and visit stores less.The criteria for "valid" mock exams is being reviewed by the regulator, hours after it published it. Our journalists will try to respond by joining the threads when {{#replies}} {{#sender.isSelf}} Independent Premium. try again, the name must be unique “It’s not just his capabilities but the investment that will allow House of Fraser management to implement the rescue plan,” he added. try again, the name must be unique
to your comment. The Telegraph values your comments but kindly requests all posts are on topic, constructive and respectful. After another 2 weeks had the order cancelled. There are no comments yet - be the first to add your thoughts Sports Direct founder already owns almost one-third of DebenhamsEnter your email to follow new comments on this article.Are you sure you want to mark this comment as inappropriate?Want to discuss real-world problems, be involved in the most engaging discussions and hear from the journalists? try again, the name must be unique These are external links and will open in a new windowRetail tycoon Mike Ashley, who has tabled a rescue bid for store chain Debenhams, has accused its executives of "a sustained programme of falsehoods and denials".He urged them to take a lie detector test and called for an investigation and the firm's shares to be suspended.Mr Ashley has offered to inject £150m into the beleaguered department store, as long as he is appointed chief executive.He launched the latest broadside as he waited for a response to his offer to invest.