Philip Green’s Arcadia collapse to push Debenhams to the brink November 29, 2020 The imminent collapse of retail group Arcadia will push Debenhams to the brink of liquidation, as potential buyer JD Sports considers backing out of the deal. JD’s board was supposed to decide whether to go through with the Debenhams acquisition by the end of last week, but has had second thoughts after learning that Arcadia [...]
JD Sports in exclusive talks with Debenhams to buy department store November 24, 2020 JD Sports is in exclusive talks with Debenhams that would see the troubled department chain acquired by the sportswear business, according to reports. Debenhams fell into administration in April for the second time. The coronavirus has hit the destitute department store hard, with stores closed and thousands of jobs axed due to the virus. According [...]
Retail tycoon Mike Ashley ‘furious’ after being ‘frozen out’ of Debenhams sale November 1, 2020 Retail mogul Mike Ashley is reportedly “furious” about being “frozen out” of an auction for collapsed department store Debenhams. The Sunday Times reported that lawyers for the tycoon have spent the last week complaining to Lazards and law firm Freshfields that Ashley’s Frasers Group had been given “woefully inadequate” information on the sale. Last week [...]
Retail mogul Mike Ashley makes fresh bid for Debenhams October 18, 2020 Sport Direct tycoon Mike Ashley has reportedly made a fresh bid for Debenhams, reviving his long-standing pursuit of the department store chain. The retail billionaire this month submitted an improved offer as the auction for Debenhams nears its final stages, the Sunday Times reported. Debenhams, which collapsed into administration in April, has hired Lazard to [...]
Debenhams boss insists retailer is not on a cliff edge September 4, 2020 The chairman of Debenhams has insisted that the struggling department store chain is not facing a cliff edge. Chairman Max Gifford said the business, which recently entered administration for the second time in a year, has been doing better than expected. Fears have been mounting about the retailer’s future following reports that Administrator FRP Advisory [...]
Debenhams sets bidding deadline for potential buyers September 1, 2020 Struggling department store chain Debenhams has set a deadline for potential buyers to make offers for the company today as it seeks to avoid further closures and job losses. Investment bank Lazard, which is overseeing the sales process, has set a deadline of 5pm this afternoon, Sky News reported. Debenhams recently entered administration for the [...]
Debenhams launches rates battle to decide future of company August 25, 2020 Beleaguered department store Debenhams has launched a fight against business rates hikes, warning it could be forced to shutter more stores and lay off thousands of workers if it is unsuccessful. The retailer has appealed to a tribunal about a 12 per cent jump in business rates to £1.1m at its Swansea store. Debenhams, which [...]
Debenhams axes 2,500 jobs in bid to cut costs after coronavirus lockdown August 11, 2020 Debenhams has axed 2,500 jobs as it seeks to reduce costs following the coronavirus lockdown, in the latest blow for the struggling UK high street. The department store chain, which permanently closed 20 stores during lockdown, said the trading environment is “clearly a long way from returning to normal” after lockdown restrictions were lifted. The [...]
Three more Debenhams stores to stay closed when lockdown eases next week, bringing total to 20 June 9, 2020 Debenhams will not reopen three more stores when lockdown restrictions on retailers are eased next week, in a move that will cost around 300 jobs. The news brings the tally of Debenhams outlets that will stay closed next week to 20. It comes after the retailer failed to agree terms with the landlord, embattled shopping [...]
Debenhams reveals first UK stores to reopen this month June 4, 2020 Debenhams has revealed which UK stores are set to reopen when lockdown restrictions are eased for retailers later this month. The department store chain said three Northern Ireland stores. Including the Belfast flagship shop, will open on 8 June. A further two stores will open in Northern Ireland shortly after. In England, 50 stores will [...]