Public row between Sports Direct and Debenhams escalates
Sports Direct has offered to buy Magasin Du Nord, Debenhams' Danish business, in order to "help with its luquidity requirements" - but only if Mike Ashley was installed as chief executive of the struggling department store.
Magasin Du Nord was been put up for sale by Debenhams last year, with Sports Direct offering to buy the business for £100m cash consideration. Under Sports Direct's proposal, Debenhams would have a 12 month option to buy back Magasin Du Nord at the price at which it was sold to Sports Direct.
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