Boohoo seeks governance assurances in row with Frasers

Frasers, majority owned by Ashley, is the biggest shareholder in Boohoo with a stake of around 27%

Last week, Boohoo said its CEO John Lyttle would step down as the group announced a strategic review that could see it broken up. Its shares are down 30% so far this year.

British online fashion retailer Boohoo said it was willing to discuss board representation with its biggest shareholder Frasers but there needed to be "appropriate governance" to protect its commercial position.

Sportswear and apparel retailer Frasers had on Thursday called for a general meeting of Boohoo shareholders to appoint Mike Ashley as a director and chief executive.