JD Sports is reported to be in exclusive talks with Debenhams about a rescue deal to secure the future of the department stores chain.
According to The Times, the sportswear business is interested in acquiring the whole of Debenhams, which would include 12,000 staff and 124 shops.
It is reported that JD Sports has begun exclusive talks with Lazard, its adviser, and administrators at FRP.
Debenhams entered administration in April this year, leading to store closures and job cuts.
Previously, Mike Ashley’s Fraser Group had put in a bid to buy the 232-year old store (see Direct Commerce news story). However, earlier this month is was reported he was out of the running, after failing to match the £300m which Debenhams’ advisors were seeking.
Debenhams’ administrators could still face the choice of liquidating the business if a buyer is not found.
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