ASHLEY LOSES £5m IN A DAY

MIKE Ashley has lost £4.7m from his stake in Debenhams after its share price plunged more than 10pc.

The 54-year-old billionaire is the High Street department store’s biggest investor, through his Sports Direct firm, which owns 364.7m shares.

This 29.7pc stake is just three percentage points off the amount required for a company to make a formal takeover bid. Experts suggested that Ashley ( pictured) could be circling Debenhams after his £90m purchase of House of Fraser to make a merged ‘House of Debenhams’.

Russ Mould, investment director at broker AJ Bell, said: ‘Speculation that he [Ashley] might launch a bid for Debenhams after capturing House of Fraser in August is likely to follow.’