Mike Ashley Votes Against Boohoo's Debenhams Rebranding

The ongoing conflict between Boohoo Group Plc and its largest shareholder Mike Ashley resurfaced as his Frasers Group voted against Boohoo's proposed name change to Debenhams Group. Although 62% of shareholders supported the renaming, it fell short of the required two-thirds majority for approval, meaning Boohoo will retain its current name. The situation reflects a broader struggle between Boohoo and Ashley, who has criticized the company's management and share price decline. The proposed name change is part of Boohoo's strategy to revitalize the Debenhams brand, which it acquired from administration three years ago. Frasers Group's opposition highlights the contentious relationship, with Ashley's attempts to gain board control being rebuffed by Boohoo. The outcome of this name change vote could significantly impact Boohoo's future direction and investor sentiment.