ReutersCopyright: Reuters
Sports Direct founder Mike Ashley has told the Times that he is not interested in buying Sir Philip Green's Arcadia, which admitted last week it was working on a restructuring of the Topshop and Miss Selfridge empire.
“Let me be completely clear. I wouldn’t buy any part of Arcadia either with [private equity company] Leonard Green or directly for a pound,†Mr Ashley said.
“I am not getting involved with that pension deficit in Arcadia for reputational reasons. It is not for me. I don’t know where the story is coming from — for all I know Philip is putting it out there that I am going to buy it — but I am not interested.â€
Meanwhile, Mr Ashley wants a seat on the board of Debenhams - his Sports Direct owns almost 30% of the struggling department store chain.
The finance director of Sports Direct, Chris Wootton said: "It is not even that the management is asleep at the wheel they are simply not at the wheel".
"If the hedge funds gets hold of Debenhams they will pick over its bones."
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