JD Sports has confirmed it has pulled out of talks to acquire Debenhams, leaving the fate of the department store chain hanging in the balance.
In a statement today, JD Sports said: “Discussions with the administrators of Debenhams regarding a potential acquisition of the UK business have now been terminated.”
The sports retailer was reported to be the last remaining bidder for the sale of the 242-year-old retailer (see Direct Commerce news story).
Debenhams entered administration in April this year, leading to store closures and job cuts. The department store chain employs around 12,000 staff and has 124 shops.
Retail giant Arcadia is the biggest concession operator in Debenhams and its collapse is understood to have been a factor, according to BBC News.
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