Retail round-up on May 18, 2016: Sports Direct's Mike Ashley may refuse to answer MPs' questions and My Local poised to sell 10% of its sites.

Mike Ashley may not answer queries if it would affect Sports Direct

Billionaire tycoon Mike Ashley could refuse to answer queries from MPs that he believes may affect his retailer, Sports Direct, if he agrees to appear before Parliament to give evidence, The Daily Telegraph reported.

It emerged that Ashley had agreed to meet MPs for the first time to answer questions on work practices at Sports Direct's warehouse on the condition that the politicians visit his Shirebrook premises the day before the inquiry.

Iain Wright MP, chair of the Business, Innovation and Skills committee, told the newspaper that the MPs would consider Ashley's offer at their committee meeting next week.

My Local to sell more than 10% of convenience store estate

Convenience chain My Local is to offload more than 10% of its sites, according to Sky News.

The move will raise questions about the future of the business, which is owned by Greybull Capital.

Just under 25 stores in the My Local estate have been set aside for disposal to The Co-operative Group, Sainsbury’s and other operators in separate transactions.

The first of the deals, which is expected to involve the Co-op buying a handful of stores, could be reached as soon as this week, according to insiders.

 

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