Sports Direct tycoon Mike Ashley has launched legal action against House of Fraser, claiming that his discount sportswear empire has been “repeatedly denied information to which it is legally entitled”.
Sports Direct, which took an 11% stake in the department store chain in 2014 as it unsuccessfully tried to thwart a takeover by Chinese group Sanpower, filed a petition for an injunction on Friday. Ashley’s company is demanding a copy of House of Fraser’s corporate plan, “along with other information”.
The row comes as House of Fraser prepares to undergo a controversial insolvency process known as a company voluntary arrangement (CVA) to cut rents and shut stores. Sanpower is also planning to sell a 51% stake to C.banner, the Hong Kong-listed owner of Hamleys, which has promised a £70m injection.
