Frasers Group in talks to buy collapsed British retailer Debenhams
Global Economy
07 December, 2020, 02:40 pm
Last modified: 07 December, 2020, 02:49 pm
File Photo: A Debenhams store is pictured on Oxford Street as the spread of coronavirus disease (Covid-19) continues in London, Britain, April 15, 2020. Reuters/John Sibley
Mike Ashley's Frasers Group said it is in negotiations to buy collapsed British department store chain Debenhams from administrators in a potential rescue deal.
Frasers said that it hoped a deal, previously reported by The Sunday Times, could be reached and jobs saved, but cautioned that the transaction was complicated by the recent administration of Debenhams-concession holder Arcadia Group.
"There is no certainty that any transaction will take place,particularly if discussions cannot be concluded swiftly," Frasers said in a statement on Monday.
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