Auditor crisis sees Sports Direct’s share price crash to eight-year low
Sports Direct's shares were decimated yesterday after Grant Thornton quit as the retailer's auditor with the Big 4 rivals already seemingly ruled themselves out.
Its shares closed down 10% - and are down by nearly half in the last year - as the latest governance problem hit the retail group.
Its closing share price valued the House of Fraser and Flannels owner at £1.14bn. It had been worth around £5bn five years ago.
£130m was wiped off the company's value, with majority shareholder Mike Ashley hit with a paper loss of £8... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...