Billionaire Lashes Out as U.S. Funds Invade U.K. Retail Crisis

U.K. retail billionaire Mike Ashley is lashing out after losing a fight with U.S. hedge funds over department store chain Debenhams Plc. The retail magnate, who made British headlines for power drinking and substandard working conditions at his sporting goods chain, has been blasting Debenhams management and making legal threats since lenders took control on April 9, wiping out his roughly 30 per Ashley played this badly wrong,” said Stephen Lienert, a credit analyst at Jefferies in London. “He could have bought Debenhams’ debt or sided with the lenders. He could have played it several other ways. Instead he went his own route and that was a massive mistake.” Officials at Debenhams and Ashley’s Sports Direct International Plc declined to comment.