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Sports Direct mulls launching customer credit

Mike Ashley is considering launching a consumer credit facility in a bid to boost Sports Direct’s growth. 

Sports Direct first applied for permission to launch a financial services arm in 2014. However, the plans fell through a year later amid reports of staff mistreatment. 

Credit for shoppers is now back “on the agenda”, deputy finance chief Chris Wotton told The Telegraph

He added that the retailer was wary and does not “want a situation where someone ends up paying £100,000 for a football”.

Wotton said the renewed interest in customer credit is partly inspired by Findel, the home shopping retailer that Sports Direct attempted to buy earlier this month. Findel made £180m in sales from its financial services arm last year. 

The news comes after Debenhams announced a £200m refinancing deal on Friday, which could result in Ashley losing his 29.7% equity stake in the department store. 

Sports Direct has been contacted for comment. 

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