Fresh Chaos for Sports Direct as No Auditor Appointed Before AGM

Billionaire Mike Ashley failed to appoint an auditor in time for Sports Direct’s annual general meeting on Wednesday, throwing the UK retailer deeper into chaos, The Irish Times reported. Sports Direct has been racing to find a replacement for Grant Thornton, which quit as auditor last month following the company’s delayed posting of annual results because of a last-minute €674 million tax bill. The big four auditing firms have turned down the role, citing conflicts of interest. Wednesday’s meeting was the culmination of a dramatic year for Mr Ashley, who lost his 30 per cent stake in department-store chain Debenhams in April when it was taken over by creditors. Since then, he has said he regrets buying unprofitable retailer House of Fraser last year and has come under fire for acquiring more struggling businesses despite Sports Direct’s own profit decline. Read more