Sports Direct increases stake in Debenhams once more

Value sportswear retailer Sports Direct has upped its stake in struggling department store Debenhams once more in its latest round of increases.

According to a stock market filing on Monday, Sports Direct currently holds a 17.08 percent stake in Debenhams through, which is small increase from the 16.09 percent stake the sportswear retailer held in the department store at the end of March, 2017. Mike Ashley’s Sports Direct first acquired a stake in Debenhams back in 2014, which led to speculation that the billionaire was preparing to take over the department store.

However, three years later, Sports Direct ongoing interest in Debenhams remains unclear. At the moment the sportswear retailer operates a number of concessions in Debenhams stores across the UK and holds “put” options in its stock, allowing Sports Direct the right to buy a shares a at future date, depending on the performance of Debenhams share price.