The escalating row between Boohoo and Revolution Beauty, the AIM-listed retailer, is poised to intensify with a complaint to the junior stock market regulator.

Sky News has learnt that Boohoo is drafting a letter to the AIM regulatory authorities demanding that Revolution clarifies an earlier stock exchange announcement that the online clothing retailer had obstructed efforts to finalise its accounts.

Boohoo also plans to seek assurances that voting decisions at a forthcoming Revolution Beauty EGM are upheld and not subsequently overturned, according to people close to the situation.

Insiders said Boohoo was considering requisitioning a second extraordinary general meeting in the coming days to remove additional Revolution directors and appoint more independent board members.

The battle between the two companies has been raging for weeks as Boohoo, which owns a 26.6% stake in Revolution, has sought to reshape its board.

Boohoo has accused Revolution of riding roughshod over corporate governance best practice by defying the wishes of shareholders by reappointing three executives immediately after they were removed at its annual meeting last month.

Boohoo said the move was motivated by greed, because it enabled the reinstated directors to receive share options worth millions of pounds.

Thames Water races to secure investor backing ahead of delayed accounts

BT Group chief executive Jansen to step down next year

Full list of Empire Cinema closures as firm enters administration

Revolution has rejected the claims, saying that the trio’s reappointment was necessary to facilitate the resumption of trading in its shares.

The stock had been suspended for more than six months after the disclosure of serious accounting concerns at Revolution.

One person close to the situation said an attempt to broker peace between the two companies was not impossible ahead of the first EGM, which is expected to take place in about a month’s time.

Boohoo and Revolution both declined to comment on Sunday.

Related posts:

Starling Bank swoops in £270m share sale to global investors ‘Hammer blow’ as government advised to drop steel quotas Business secretary to keep energy price cap in place this winter BP-backed Pure Planet faces becoming latest casualty of energy crisis Activist fund Gatemore builds stake in furniture chain DFS Ted Baker shares surge as US private equity firm says it’s considering takeover bid Pendragon shareholder Hedin Group in £400m raid on car dealership giant HSBC executive Haire in surprise move to run the Skipton Petrol retailers accused of ‘rocket and feather’ pricing as unleaded hits new record Sale of collapsed energy company Bulb delayed over ‘very serious concerns’ ‘I felt I’d been burgled’: Woman says energy firm workers forced their way into her home to install meter Inflation, cyber crime and self-driving grocery delivery