Sports Direct probed by financial regulators

Mike ashley

Regulators are probing Sports Direct over its latest financial accounts and compliance with rules on inside information.

The Financial Reporting Council has queried how the retailer’s auditor, Grant Thornton, valued its stake in Debenhams – the department store chain that was sold in a pre-pack deal to its lenders last month.

The Financial Conduct Authority has voiced separate concerns over Sports Direct’s disclosure of information in relation to its mooted bid for Debenhams prior to the pre-pack sale.

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