Mike Ashley: make me Debenhams CEO and I’ll back £150m rescue

Sports Direct boss seeks to prevent lender takeover that would wipe out his stake

Mike Ashley has offered to underwrite a £150m shareholder rescue fundraising for Debenhams if the ailing department store chain agrees to make him chief executive.

The offer is the Sports Direct boss’s latest attempt to prevent Debenhams being taken over by its lenders and wiping out his group’s near 30% stake, which he spent about £150m building.

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