Mike Ashley

Debenhams deal is a 'national scandal'

Debenhams
PA

Mike Ashley's Sports Direct has said that the takeover of Debenhams by its lenders as part of an administration process is "nothing short of a national scandal".

The store chain rejected two last-ditch takeover offers from Sports Direct.

Under Tuesday's deal, all stores will remain open for now, although some have been earmarked for closure.

Mr Ashley said politicians and regulators had been "as effective as a chocolate teapot".

He also called for the administration process to be reversed.