Ashley scores against Fraser
House of Fraser has bowed to pressure from Mike Ashley and handed him a secret business plan.
The tycoon, who owns 11pc of the store through Sports Direct, filed a court injunction earlier this year to demand a copy of the document.
house of Fraser’s management has sent the document to Ashley, handing him crucial information that could aid a dramatic swoop on the business. The plan was prepared late in 2017, before house of Fraser announced a store closure programme and Chinese investment as part of a rescue plan.
A group of house of Fraser’s landlords were refused access to the document because it contains commercially sensitive information permitted only for shareholders.