As it made its offer, Frasers said it had only been made aware of Mulberry's plan to raise additional funds "immediately prior to its announcement". "Given this total lack of engagement, we believe the status quo to be an untenable position for Frasers and the other minority holders of Mulberry shares," it said. Frasers said it was "exceptionally concerned" at an opinion by Mulberry's auditor in its annual report, published on Friday, which noted there was "material uncertainty related to going concern".
It said: "As a 37% shareholder, Frasers will not accept another Debenhams...
Charlotte Edwards.