Sports Direct under pressure - again

According to the Daily Mail, Mellors stood accused, during presentation of the company’s interim results, of not elucidating on whether the loss of £31m, on the back of currency deal to buy US dollars, could have been avoided.

Sports Direct, its FD and its eccentric CEO Mike Ashley have been under attack all year from the City and analysts standing accused of failing to make themselves available for meetings and failing to explain the company’s strategy.

Yesterday Sports Direct revealed a 32% decline in first-half profits before tax to £52m. Ashley blamed the poor performance on three ‘train wrecks’ – summer rain, slow Christmas trading and England’s poorly performing football team. The currency problem came on top of the company's triumvirate of difficulties.

For more got to

On the Money - Mellors and the City

Sports Direct's FD enjoys mega-bonus