Facebook set to snap up Debenhams HQ as embattled retailer surrenders lease March 28, 2019 Facebook has agreed to swoop up new office space left empty by troubled department store chain Debenhams, which is vacating its West End HQ to help pay off a mounting debt pile. Read more: Debenhams bondholders back £200m rescue loan in blow to Ashley bid The tech giant, which which has been ramping up its [...]
DEBATE: Could Mike Ashley be the answer to Debenhams’ woes? March 28, 2019 Could Sports Direct boss Mike Ashley be the answer to Debenhams’ woes? John Phillips, general manager (EMEA) of Zuora, says YES. Reversing the fortunes of Debenhams would provide any new boss with a challenge – it is in dire need of modernisation. But Mike Ashley could well be the right man for the job. He has [...]
Footwear chain Dune tables offer to save struggling retailer LK Bennett March 27, 2019 Footwear chain the Dune Group has tabled an offer for LK Bennett as the struggling fashion retailer’s administrators prepare to select a buyer. Dune, which operates 40 standalone stores and 175 concessions in the UK, was one of a handful of potential buyers to submit final bids earlier this week, Sky News reported. Read more: [...]
Debenhams shares skyrocket as Sports Direct mulls £61.4m bid March 27, 2019 The future of Debenhams is up in the air this afternoon as Mike Ashley battles with creditors to take control of the embattled department store chain. The Sports Direct boss and retail tycoon, who owns a near 30 per cent stake in Debenhams, revealed yesterday that he was mulling a £61.4m bid to take full [...]
Debenhams shares soar as Mike Ashley’s Sports Direct considers offer March 26, 2019 Debenhams has doubled down on its major restructuring strategy this morning, saying that it will continue with its plan to obtain funding hours after Sports Direct revealed it was mulling a bid for the embattled department store chain. Read more: Sports Direct mulls cash offer for Debenhams Last night Mike Ashley’s sportswear firm said that [...]
Sports Direct mulls cash offer for Debenhams as Ashley looks to seize control March 25, 2019 Sports Direct has said it is considering a bid for Debenhams just hours after owner Mike Ashley branded the troubled department store’s rescue plan “unworkable”. The retail tycoon’s firm said in a statement after close this evening it was weighing up an offer for the firm “alongside other options”. It said the bid would likely [...]
Debenhams shares fluctuate after Sports Direct’s Mike Ashley brands restructuring plan ‘unworkable’ March 25, 2019 Shares in Debenhams suffered from volatility this morning after Sports Direct owner Mike Ashley branded the troubled department store’s rescue plan "unworkable". Read more: Debenhams flags 'obvious concerns' with Ashley's £100m CEO bid Shares in the troubled high street giant dropped 24.5 per cent from 1.59p to 1.2p before rising to stand eight per cent [...]
Debenhams flags ‘obvious concerns’ over £100m bid to make Mike Ashley CEO March 22, 2019 Debenhams has turned down Sports Direct's offer to buy its Danish business with the condition that Mike Ashley oust current boss Sergio Bucher to become the company's chief executive. Earlier today Sports Direct made a £100m offer for Magasin du Nord and claimed it would help the company's liquidity, while also giving Debenhams the freedom to buy it [...]
Mike Ashley makes fresh £100m bid to become Debenhams CEO by buying Magasin Du Nord March 22, 2019 Mike Ashley has made another attempt to install himself as Debenhams chief executive, with Sports Direct making a £100m offer for the department store chain's Danish business. In a statement Sports Direct said it would purchase the business, which was put up for sale last year, for £100m, "in order to assist Debenhams with its short term liquidity requirements". [...]
Debenhams share price crashes as it asks shareholders to risk equity on £200m loan March 22, 2019 Debenhams’ shares tanked this morning as it asked investors to sign off a £200m funding lifeline that could lead to shareholders’ equity being wiped out. Read more: Debenhams on the verge of sealing £200m funding from lenders The £200m funding would prevent the embattled department store chain from falling into the hands of billionaire Mike [...]