Debenhams misses out on major investment from stakeholder
Debenhams has lost its fifth biggest investor following a boardroom meeting from Mike Ashley.
Invesco Asset Management has pulled out of dealing with the retailer. It had around a five per cent stake in Debenhams.
The news broke yesterday (March 18) that Invesco had sold its entire holding, however rejected commentary as to why.
Invesco has left during the time when Mike Ashley is aiming to change the landscape for Debenhams and its future. He is currently the chain’s largest shareholder, coming in at under 30 per cent.
In 2018, Invesco saw potential in Debenhams following its investment value significantly reduce. In 2015, the retail giant’s shares were trading 96p-per-share.
The shares are currently said to be worth just over 3p-per-share. The chain is currently market valued at around £40m.
The UK is set to leave the EU on 31 October 2019. Are you preparing for Brexit? Complete the North East Growth Hub and Tees Valley Business Compass’ 3-minute survey →