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Sports Direct reneges on independent review

Sports Direct has decided law firm RPC, which it has worked with before, will conduct an independent review of the business, despite calls from shareholders for another firm to carry it out.

The retailer said the decision was reached after “careful reconsideration” and was a result of delays in appointing an independent party other than RPC to lead the review.

Sports Direct said it had twice accepted candidates who were put forward to chair the review by the Investor Forum, only for those candidates to be withdrawn.

It added that further delays would place “an unreasonable burden on the business” at a time when it should be “fully focused on delivering its strategic priorities” to become the “Selfridges of sport”.

An external evaluation of the retailer’s board is planned for later this financial year.

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