Ashley sets up £220m financing at Sports Direct
Sports Direct, the retailer controlled by Newcastle United owner Mike Ashley, has unveiled a £220m refinancing.
Score: Sports Direct has performed strongly, in stark contrast to rival JJB Sports
Britain's biggest sporting goods retailer said the new three-year unsecured loan was made through a club of 10 banks led by HSBC and Barclays.
The company has performed strongly in stark contrast to its beleaguered rival JJB Sports.
The firm also updated the market on the status of a Serious Fraud Office investigation.
In March 2010 the Competition Commission cleared Sports Direct's acquisition of 31 stores from JJB Sports, and in October last year the SFO completed its investigation into Sports Direct and JJB bringing no charges against either company but continuing the investigation in relation to individuals.
Sports Direct (up 1.80p to 182p) claimed yesterday that 'no individuals' connected to the firm were now under investigation.
But the SFO appeared to contradict this statement last night saying: 'A live investigation is ongoing into individuals,' but it refused to be drawn on if they were linked to Sports Direct.
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