JD Sports steps up interest in Debenhams
Nov. 16, 2020
JD Sports has reportedly stepped up its interest in department store chain Debenhams.
The sportswear retailer has been granted access to Debenhams’ secure data room to examine its finances, The Telegraph reports, indicating the retailer is serious about a potential rescue deal.
Debenhams fell into ‘light touch’ administration back in April - a process being handled by restructuring firm FRP Advisory.
JD Sports has previously been rumored as a potential buyer of Debenhams but it was thought it hadn’t made an offer.
Earlier this month, Frasers Group - which owns JD Sports rival Sports Direct - stepped out of the race to acquire Debenhams after failing to match a 300 million pound price tag demanded by the UK department stores group’s advisers.
Photo credit: Debenhams