Sports Direct in crunch talks with government as auditor quits

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Sports Direct is in a race against the clock to appoint an auditor ahead of its annual general meeting in September when current auditor Grant Thornton will step down.

The troubled sporting goods retailer has asked the government for guidance as it stands to become the first major listed business to fail to appoint an auditor, which is in breach of stock market rules, the Financial Times has reported.

Sports Direct said Grant Thornton, which has acted as the retailer’s auditor since its 2007 stock market debut, “intends not to seek reappointment as the company’s auditors” following its annual general meeting on September 11.

The news comes shortly after the retailer published its annual report, which said that it proposed Grant Thornton be reappointed by shareholders at the AGM.

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