Sportswear tycoon Mike Ashley has failed to convince a majority of Boohoo’s shareholders to support his bid to join the board of the fast-fashion retailer.

British retail tycoon Mike Ashley has failed in his attempt to be appointed to the board of Boohoo after shareholders in the struggling online fast-fashion group voted against the move.

Boohoo shareholders deny Mike Ashley seat on board after boardroom battle - Frasers Group, which owns a 27% stake in Boohoo, had urged investors to appoint Mr Ashley and restructuring expert Mike Lennon.

Mike Ashley has lost his bid to become a board member of fast-fashion giant Boohoo, which is Frasers Group is the largest shareholder in. More than 63 per cent of votes were cast against the appointment of the billionaire at a general meeting in Manchester.

Mike Ashley has accused Boohoo’s founder of being “egotistical” and running the online retailer into the ground as he stepped up a campaign for a seat on the board. The Frasers Group owner said in a letter to Boohoo investors that current management had created “a catastrophic mess” and driven the firm’s shares down by 90pc over five years.

Frasers Group and Mike Ashley have been locked in a public battle with Boohoo in recent months, and the billionaire has now suffered a blow after losing a vote to join the board

Frasers Group chief Mike Ashley has lashed out at Boohoo management in his bid for a seat on the struggling fashion retailer’s board. In an open letter, Ashley vowed to turn around the London-listed company,

Mike Ashley has accused the leadership of Boohoo of engaging in “blatant hypocrisy” in their attempts to block the billionaire from gaining seats on the company’s board.

Boohoo Group Plc shareholders rejected billionaire Mike Ashley’s bid for board representation at the online fashion retailer after weeks of public fighting.