Mike Ashley: MPs not “properly investigating” Debenhams collapse

By guest author Sahar Nazir from Retail Gazette

  • Mike Ashley claims MPs are not “interested” in Debenhams’ collapse
  • The Sports Direct founder said politicians are only interested in their own PR
  • Ashley compared Debenhams with the collapse of Thomas Cook

Mike Ashley has increased his efforts to continue an investigation into Debenhams’ administration.

Mike Ashley (caption courtesy by Retail Gazette)

The Sports Direct tycoon claimed that MPs are far more concerned with their own PR rather than delving into corporate misconduct.

Ashley wrote in a letter to MP Rachel Reeves, seen by the Guardian: “No one in parliament seems sufficiently interested about the Debenhams failure.”

Ashley said politicians were only interested in their own PR, while ignoring “cases which are just as bad if not worse”, such as Debenhams and House of Fraser.

Reeves, the chair of the business, energy and industrial strategy select committee, is investigating the failure of travel company Thomas Cook.

Ashley compared Debenhams with the collapse of Thomas Cook.

The travel company’s management was strongly criticised last week by the committee for not accepting responsibility for any wrongdoing.

In the letter, Ashley said he had met Reeves and other members of the committee to discuss concerns about Debenhams, but realised they were not “properly investigating”.

“It is very apparent that a head of steam is developing in the media and in the electorate that they will not tolerate these sorts of situations any longer, where businesses and advisers profit from playing the system at the expense of others,” he added.

Following Debenhams’ administration in April, Sports Direct’s 30 per cent stake worth GBP 150 million was wiped out.