Boohoo has urged shareholders to rebuff Mike Ashley’s boardroom coup as it hit back at his “inaccurate and unfair” critique of the fast-fashion retailer.
On Thursday Frasers requisitioned an extraordinary general meeting with the aim of installing Ashley as a director and chief executive of the online fashion group, which has struggled following the arrival of ultra-fast fashion rivals such as Shein.
Frasers, the Sports Direct and House of Fraser owner, which holds 27 per cent of Boohoo’s voting rights, said the board had “lost its ability to manage Boohoo’s business and investments” and accused directors of “stonewalling”.
Mike Ashley is aiming to win a seat on the Boohoo board
ALAMY
This came days after Boohoo had announced that its chief executive, John Lyttle, would step down in the coming months, alongside the launch of a review of