Sports Direct shares drop as Grant Thornton quits as auditor

Sports Direct’s shares fell this morning after announced Grant Thornton was quitting as its auditor.

Sports Direct said:  “In order to achieve an efficient and orderly handover, our current intention is to ask our shareholders to approve reappointment of Grant Thornton for one further year at the annual general meeting.”

Instead, Grant Thornton, which has been Sports Direct’s auditor since 2007 when the company floated on the London Stock Exchange, will not seek reappointment at the AGM on 11 September.