Sports Direct executive Michael Murray has insisted the group is “definitely not a business in crisis” despite increasing doubts over its strategy.
Murray, who is Sports Direct’s head of elevation and the son-in-law of chief executive Mike Ashley, was speaking just 24 hours after the retailer struck a £12.8m deal to rescue Jack Wills out of administration.
It was the latest in a string of distress purchases, including the likes of Evans Cycles, Sofa.com and House of Fraser.
Ashley admitted problems in the department store chain were “terminal” during its half-year results presentation last month, which was delayed after a shock £605m tax bill from the Belgian authorities.
But despite the problems encountered at House of Fraser, Murray said Sports Direct will continue to look at acquisitions when opportunities arise.
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