Sports Direct tycoon Ashley bails out of MySale

Mike Ashley

Sports Direct tycoon Mike Ashley has sold his stake in etailer MySale.

Ashley has offloaded his 4.8% holding for about £518,000 – substantially less than he paid for it when he invested alongside Arcadia tycoon Sir Philip Green.

The loss on the investment came in the wake of Sports Direct’s wipe-out, along with other equity investors, when control of department store group Debenhams passed to lenders following an administration process.

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