Sports Direct has increased its stake in Debenhams to 16 per cent

Here’s why

Sports Direct has raised their stake in store chain Debenhams, regulatory filings show. 

They have upped their stake “options in stock” from 13.38 per cent to 16.09 per cent which entitles Sports Direct with the right to buy shares in the future.

They also hold “contracts for differences” which is a type of financial bet on Debenhams future share price.  Sports Direct has had an interest in the high-street chain for more than three years.

Debenhams is expected to report its half year report 20 April. They have 240 stores across 27 countries.

Their current share price stands at 54.40p compared to last April’s price of 81.55p.