The stock market value of Sports Direct has fallen by over £500m as its shares fell by 13% after workers were shown to be receiving effective hourly rates of pay below the minimum wage. A spokesman for the retailer said: “While we are disappointed that our employees have been paid less than their colleagues at other retailers, this is a matter which will ultimately be resolved through collective bargaining.
The stock market value of Sports Direct has fallen by over £500m as its shares fell by 13% after workers were shown to be receiving effective hourly rates of pay below the minimum wage. Ashley Hamilton Claxton, a corporate governance manager at Royal London Asset Management, said that if the company continued to ignore the issues, it ran the risk of “eroding shareholder value”.