LONDON, Sept 10 (Reuters) - British retailer Sports Direct
has barred media from attending its annual general
meeting (AGM) on Wednesday where majority owner Mike Ashley
faces shareholder opposition to his re-election as a director.
Company founder and chief executive Ashley, who also owns
Premier League soccer club Newcastle United, owns 63% of the
company.
The shares have fallen 27% over the last year with investors
critical of Ashley's constant dealmaking and the group's
corporate governance and employment practices.
Several shareholder advisory groups have urged investors to
vote against Ashley's re-election as a director at the AGM.
In April, Sports Direct failed to prevent department store
chain Debenhams from falling into administration and saw its
equity stake wiped out.
In July, the group warned it could face a 674 million euro
bill from Belgium's tax authority and said last year's purchase
of department store group House of Fraser out of administration
may have been a mistake.
Sports Direct's auditor Grant Thornton has also quit and the
retailer is struggling to find a successor.
A spokesman declined to provide a reason for media being
banned from the AGM this year.
Most British corporate annual general meetings are open to
media. Members of the media were invited to the Sports Direct
AGM last year.
(Reporting by James Davey;
Editing by Jason Neely and Edmund Blair)