Debenhams' shares soar as Ashley attempts boardroom coup
Shares in Debenhams soared after Mike Ashley launched an attempted boardroom coup at the troubled department store chain.Rocketing up to 40% in early trading, they still ended the day up 16%. Over at Sports Direct, shares initially fell by 2% in response to the retail tycoon's plan to step down from the firm he founded back in 1982 and take the helm at struggling retailer, but were 0.6% higher at market close.Under the move, Sports Direct is seeking to remove of all but one of the current Debenhams board members and put the billionaire in charge of the business, which earlier this week issued a fresh profit warning citing higher turnaround costs. Image: Mike Ashley would step down as Sports Direct chief executive under the plan Mr Ashley, who through ...
