The future of another big retail name, Debenhams, has reached a potential tipping point after JD Sports said it was to pull out of talks on a rescue takeover.
JD was understood to be in pole position in a sale process initiated by administrators after the troubled 242-year old department store chain’s latest collapse in April.
But the sportswear chain was spooked by the demise on Monday night of Debenhams’ biggest supplier, Sir Philip Green’s Arcadia Group, while there was also unease among shareholders.
Debenhams still employs 12,000 staff at 128 UK stores – many of them currently closed due to coronavirus restrictions.
Source: Read Full Article