Fast fashion retailer offers largest shareholder a seat on its board - but not Frasers' founder Ashley

Boohoo has offered its largest shareholder, Frasers Group, a seat on its board – but not for the retail tycoon Mike Ashley, Frasers’ founder.

The fast fashion retailer said on Friday it was willing to have “constructive” talks about Frasers joining its board. But it said current nominees Ashley and Mike Lennon, a restructuring expert, would have “irreconcilable conflicts of interest”.