Debenhams is to seek €230 million in new financing and pursue a restructuring plan in a move which could wipe out existing shareholders including Mike Ashley.

Mike Ashley's Sports Direct has been accused of reneging on a promise to offer guaranteed hours to staff on zero hour contracts in a fresh blow to the company ahead of its annual meeting.

Sports Direct is to enter the Australian and New Zealand markets for the first time after signing a partnership with online discount retailer MySale.

The owner of retail chain JD Sports continued to defy expectations today after it revealed “pleasingly positive” Christmas sales figures.

The owner of retail chain JD Sports turned up the pressure on its rivals today by forecasting annual profits above market expectations.