Premier Investments has issued another missive at department store Myer.
The move comes after Myer chairman Gary Hounsell finally addressed the repeated attacks by Premier.
In response to the address, Premier accused Myer of attempting to deflect its issues ahead of the annual general meeting on November 30.
"In its panicked efforts to avoid accountability, the arrogance of the Myer Board now extends to blaming its shareholders for the mess they have themselves created.
"Myer’s shareholders are not responsible for its plummeting sales, its 90% collapse in market capitalisation, its cancelled dividends, its disappeared profits, its disastrous clearance floors, its market disclosure class actions, its abandonment of its shareholders and other stakeholders in favour of its banks, its inability to address its costs or any of its other myriad problems.
"If the Myer Board wants to know who to blame for its appalling track record, it should go stand in the hall of mirrors and have a good look around. This letter is a desperate attempt to deflect attention from the Myer Board’s woeful performance, and reeks of a group of scared directors who know their time at the trough is coming to an end."
Shareholders will be able to vote on the future Myer Board at the AGM on November 30.