Retail tie-up on cards
JD Sports in rescue talks with Debenhams
The leisurewear chain in keen to buy all the stores, says sources
JD Sports is said to be negotiating a takeover of Debenhams in a deal that could safeguard thousands of jobs.
The leisurewear retailer has begun talks with the department store chain’s administrators with a view to buying all 124 stores and taking on 12,000 staff.
Debenhams went into administration in April for the second time in two years but has renegotiated with landlords which has made it more of an attractive proposition to potential buyers.
Frasers group owner Mike Ashley, the founder of Sports Direct, has been knocked back a few times after trying to seal a deal.
Sources told the Daily Mail that talks were now under way between JD Sports and Debenhams, but warned that a deal could not be guaranteed.