The announcement that the branch office provider is under management is likely to void an agreement.
Last Monday, November 30, 2020 at 23:38 GMT
JD Sports is about to withdraw from talks Tuesday about a bailout agreement for Debenhams, thousands of jobs in organizing troubled branches are at risk.
Last-minute negotiations to succeed in an agreement continued, however, Monday night’s news that Debenhams’ main supplier, Arcadia, had collapsed in the administration, as well as uncertainty about situations on the main street and the negative reaction of shareholders, would have cooled JD. Interest. .
A nearly 6% increase in JD percentage value on Monday, when the idea that it could simply withdraw from Debenhams, a major influence on the group’s control team led by Peter Cowgill, the executive chairman. eliminated the cost of the company last week when it became known that it was contemplating the purchase of Debenhams.
Debenhams, which employs about 12,000 people, is contemplating a possible sale from the summer after taking April for the time being in a year.
JD was thought to have targeted The Debenhams’ website, but analysts said he hoped it would only occupy a portion of the organization’s 124 stores. The organization saw the possibility of entering a wider market and selling household items, attractive products and smarter clothing. your existing customers.
If JD withdraws from the rescue talks, the only remaining suitor who will likely earn a significant number of retail outlets is Mike Ashley’s Frasers Group.
Ashley has not hidden her interest in the troubled decomposition store even though a 150 million pound stake in the publicly traded company disappeared last year as a component of a debt restructuring agreement with the decomposition store lenders.
Frasers may simply reduce branch group prices by merging it with its House of Fraser chain. However, Ashley’s donations to the company so far have not surpassed some of the three hundred million pounds her owners expected.
Other potentially interested parties, such as online specialist The Hut Group, who would be interested in the website, and Reliance Retail in India, appear to have melted.
Other stores may be interested in Debenhams brands, adding Maine and Mantaray, or some of their main sites. Hilco’s corporate restructuring has been covered to sell shares and other assets if no customer can be found.
The current owners of Debenhams do not retain the group, Debenhams and JD Sports declined to comment.