Sports Direct boss Mike Ashley

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Sports activities Direct was based by Mike Ashley

Mike Ashley’s Sports activities Direct has raised its stake in Excessive Road division retailer chain Debenhams.

Regulatory filings show Sports activities Direct has now upped its curiosity in Debenhams inventory from 13.38% to 16.09%.

However as an alternative of shopping for Debenhams shares outright, the sports activities agency as an alternative holds “choices in inventory”, which provides it a proper to purchase shares at a future date.

It additionally holds “contracts for variations”, a type of monetary wager on the long run Debenhams share value.

Sports activities Direct first revealed an interest in Debenhams greater than three years in the past.

Sports activities Direct has 420 UK shops and owns a number of manufacturers together with Dunlop, Slazenger, Everlast and Karrimor.

It was taken public by Mr Ashley in February 2007 and is a member of the FTSE 250, having spent two-and-a-half years years within the FTSE 100.

Debenhams has 240 shops in 27 international locations and studies its half-year outcomes on 20 April.

Shares within the firm had been buying and selling as excessive as 81.55p final April, however now stand at 54.40p.