Investors of Boohoo Group Plc are being advised to reject Frasers Group Plc's proposal for board seats at the fast-fashion retailer.
A well-respected proxy adviser, Institutional Shareholder Services Inc., has recommended against the proposal, citing Frasers' failure to provide specific plans for change.
Boohoo has also expressed its concern, emphasizing the lack of concrete strategies from Frasers.
This situation raises questions about Frasers' intentions and the potential impact on Boohoo's future direction.