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Debenhams to 'carefully consider' Ashley loan offer

Debenhams to 'carefully consider' Ashley loan offer

Business
By James Sillars, business reporter Debenhams says it will give "careful consideration" to Mike Ashley's offer of a £150m conditional loan under his attempted coup.The struggling department store chain, which is in advanced talks with its banks on a rival £150m refinancing, cautioned that any loan from the tycoon's Sports Direct empire would also require the agreement of its own lenders and bondholders. Mr Ashley, who is the largest shareholder in Debenhams, last week called an investor vote to remove most of the board and install himself as chief executive.He fired several further shots in his battle to take personal charge on Wednesday.One was the offer of a £150m loan - interest free - but only if Mr Ashley is handed the top job. ...