Frasers has demanded Boohoo publicly declare it will not sell assets without shareholder approval, as the pair's high-profile spat gathers pace. The retail giant urged the struggling fast fashion brand to 'stop, once and for all' its 'utter disregard for shareholder views', claiming Boohoo had refused to privately agree to consult shareholders before selling off parts of the business. Frasers, which is a 27 per cent shareholder in Boohoo, has been at war with the group over a sharp share price decline, weak profits and fierce disagreements over the company's future.
Loggerheads: Boohoo CEO Dan Finley (left) and Frasers founder Mike Ashley Last week Boohoo named Debenhams boss Dan Finley as its new chief executive, crushing Frasers' demands for the appointment of its founder Mike Ashley. Frasers had called for Ashley to take the helm as it lashed out at 'abysmal' performance and 'mismanagement' it believes has led to..
. Mike Sheen.
