Boohoo and Debenhams owner raises £35m, risking Mike Ashley clash
by Sarah Butler from World news | The Guardian on (#73MCW)
Company, which also owns Oasis, Warehouse and Karen Millen, to use cash to cut debts and fund turnaround
The owner of Boohoo and Debenhams is raising 35m from shareholders in a move that could open a fresh conflict with Sports Direct founder Mike Ashley.
The company, which also owns Oasis, Warehouse, Pretty Little Thing and Karen Millen, said on Tuesday that the new cash would help reduce debts and fund its turnaround plans. These involve slashing costs, selling off a distribution centre and operating Debenhams as an online marketplace for other brands.
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