MIKE Ashley is threatening a WWE-style smackdown at Boohoo by demanding the retailer makes him chief executive. Just one day after dropping a separate £111million bid for Mulberry , the sportswear tycoon has deployed his favoured tactic of a public “poison pen” letter to attack the online fast-fashion giant’s management team. 4 Mike Ashley is threatening a WWE-style smackdown at Boohoo by demanding the retailer makes him chief executive 4 Mike Ashley's current holdings, following his Mulberry bid The missive, wired to the City yesterday morning, accused Boohoo of “abysmal” performance and “value destruction”.
Mr Ashley’s Frasers Group has steadily built up a 27 per cent stake in Boohoo — and now owns more than the founder and executive chairman Mahmud Kamani. The letter from the former Newcastle FC owner claims the board had “lost its ability to manage Boohoo’s business and investments”. Clive Black, analyst at Shore Capital, likened the explosive development of “the Ashley- Kamani bout” to “retail WWE”.
READ MORE ON MIKE ASHLEY ASHLEY'S BAGS BID Mike Ashley launches fresh £111million bid for luxury bag firm Mulberry CASHOUT Newcastle cough up £10MILLION to settle HMRC spat from Mike Ashley's ownership “Get out the popcorn,” he added. Just last week Boohoo said it would address the 90 per cent collapse in its share price with a strategic review. That could spell the break-up of its Pretty Little Thing, Karen Millen and Debenhams brands.
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