Home Business News Debenhams to consider £150m loan

Debenhams to consider £150m loan

by LLB Reporter
14th Mar 19 9:52 am

Troubled retailer Debenhams has said they will give, “careful consideration” to Mike Ashley’s £150m loan.

Wednesday evening Ashley offered a 12-month loan for £150m, he also accused the board of “deliberately misleading” the markets.

Sport Direct revealed on Wednesday they made a complaint to the City watchdog over Debenhams communications.

The letter was written a few days before Ashley tried to install him self on the board. Debenhams hit back saying the claims are not true.

However, Debenhams are looking at the proposed loan from Ashley, they further said any loan would require the backing of their lenders and “material amendments” to existing facilities.

They said, “Nevertheless, the board will give careful consideration to the proposal and will engage with Sports Direct and other stakeholders regarding its feasibility in the interests of all parties.”

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