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Story summary
- Boohoo Group plc is raising £35 million from shareholders to cut debt and fund a Debenhams online marketplace.
- The move could pit Boohoo against Mike Ashley, founder of Sports Direct, who holds near 30% of Debenhams.
- Boohoo says all brands are profitable and expects £50 million underlying profits by end-February.
- Frasers Group has criticized asset sales and has not confirmed support for the fundraising, with analysts concerned about Boohoo's finances.
