(Bloomberg) -- Mike Ashley’s Sports Direct International Plc is taking the fight against U.K. department store chain Debenhams Plc to Parliament.
The company controlled by the British billionaire, until earlier this year Debenhams’ largest shareholder, said on Monday it asked lawmakers to investigate the retailer in a letter originally sent on Friday to Rachel Reeves, chair of the U.K. House of Commons Business, Energy and Industrial Strategy Committee.
The scheme devised by U.S.-based hedge fund Silver Point Capital “was actually planned, designed and executed in conjunction with their professional advisers to take control of the company from the existing shareholders leaving them with nothing,” according to Sports Direct.
The request is Ashley’s latest attempt to fight back after losing control of the department-store. Lenders took over the business in administration in April after a protracted fight with Sports Direct. In September, Ashley lost a legal challenge aimed at thwarting the company’s restructuring plan.
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