Shares in Sports Direct plunged to a new eight-year low as investors reacted to the farcical scenes on Friday when Newcastle United owner, Mike Ashley's company delayed its results until nearly an hour after the stock market closed.
In early trading, shares dropped by as much as 19%, before recovering to be down 9%, or 21p off at 208.8p.
Investors appeared particularly concerned with the revelation that Belgian authorities are chasing Sports Direct for a 674 million euro (£605 million) tax bill following a recent audit.
The company said it will challenge the demand, adding it was "less than probable that material VAT and penalties will be due in Belgium as result of the tax audit".