{"id":161233,"date":"2019-04-09T20:41:40","date_gmt":"2019-04-09T20:41:40","guid":{"rendered":"https:\/\/www.theindustry.fashion\/mike-ashley-slams-debenhams-administration-as-national-scandal\/"},"modified":"2021-08-12T13:55:50","modified_gmt":"2021-08-12T13:55:50","slug":"mike-ashley-slams-debenhams-administration-as-national-scandal","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/mike-ashley-slams-debenhams-administration-as-national-scandal\/","title":{"rendered":"Mike Ashley slams Debenhams administration as \"national scandal\""},"content":{"rendered":"
Mike Ashley has called the administration of Debenhams a \u201cnational scandal\u201d<\/strong> and called for the process to be reversed after the retailer\u2019s lenders seized control.<\/p>\n The so-called pre-pack administration wipes out the stakes held by Sports Direct and all other shareholders.<\/p>\n <\/p>\n It also cancels plans for an emergency shareholder meeting<\/strong> in which Ashley was to seek his appointment to the board and attempt to oust most other directors.<\/p>\n In a statement issued to the market on Tuesday afternoon, Ashley said the administration should be reversed<\/strong> and Sports Direct given access to information to \u201csave the business for all stakeholders\u201d.<\/p>\n He also slammed the authorities and the retailer\u2019s advisers.\u00a0\u201cThese politicians and regulators have proven to be as effective as a chocolate teapot<\/strong>,\u201d he said.<\/p>\n \u201cI restate my call for the advisers to go to prison<\/strong> given their skulduggery in undermining shareholders and other stakeholders, such as employees and pensioners.\u201d<\/p>\n