Sports Direct increases stake in Debenhams

Sporting goods retailer Sports Direct has increased its stake in struggling department store Debenhams again.

Sports Direct has upped its stake in Debenhams from 18.2 percent to 19.1 percent. The move comes weeks after the sportswear retailer increased its holding in the department store chain and signals the latest boost in a string of moves to grow its stake in Debenhams.

The sportswear retailer first took a minor stake in Debenhams back in 2014, which sparked speculation that its owner Mike Ashley's could be preparing to take over the department store chain.