Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Deadline passes for Debenhams bids

Deadline passes for Debenhams bids

Wed, 02 Sep 2020 | BUSINESS SALE



The deadline for bidders to submit their offers for department store chain Debenhams passed yesterday, with the future of the business remaining uncertain. Investment bank Lazard, which is running the sale process, had set a deadline of 5pm on September 1 2020 for bidders to make an offer for the company, as it sought to gauge interest in the business.

Administrators FRP Advisory that a deal for Debenhams can be reached by the end of September, otherwise the retailer will explore other options. FRP has reportedly lined up Hilco Capital to oversee a liquidation of the business if all other options fail. This would involve all stores shutting, with all stock and assets sold.

Debenhams’ current owners, a private equity consortium of banks and lenders known as Celine, are reportedly keen on a restructuring that would allow them to remain in charge.

Debenhams employs around 12,000 staff and has already made some of the biggest job cuts on the UK high street during the coronavirus crisis, with 6,500 job cuts in total so far. The company has also closed around 20 stores and has reportedly not been paying rent, rates or suppliers as it struggles with a debt pile thought to total around £600 million.

The retailer went into administration for the second time in a year in April, as it looked to protect itself from creditors, before launching a sales process at the end of July. However, the retailer is said to have performed beyond expectations since some stores began reopening in June and is not currently thought to be in a position where it needs to borrow money.

Prospective buyers have reportedly been issued with a pitch outlining an “illustrative scenario” which would see have of Debenhams’ estate liquidated, leaving it with 60 stores. The document forecasts that this could result in profits of £90 million for the year ending February 2022.

Reported interested parties include Next, Mike Ashley’s Frasers Group and a Chinese consortium. Frasers Group Head of Elevation Michael Murray said the company was interested in acquiring Debenhams on a store-by-store basis, but would only consider stores that could see floors split between Frasers Group’s Sports Direct and Flannels business.

It is said to be unlikely that a single buyer would be interested in buying all of Debenhams, with most prospective bidders interested in acquiring some of Debenhams’ brands or a parcel of stores.


View the latest distressed UK businesses here.


Share this article



Latest Businesses for Sale

Independent Personalised Card and Giftware Retailer
South of England, UK

Specialises in the manufacture and sale of hand-crafted and stylish personalised greeting cards and gifts for all ages and occasions. Highly skilled and experienced workforce that enables the company to offer a dedicated and customer-focused approach...

Asking Price: Offers Invited
Turnover: £663,000

RELOCATABLE


Motor Specialist Suppliers
Billingham, County Durham, North East, UK

Established Over 30 Years. Excellent Google Customer Reviews. Potential to Increase Turnover. Well stocked with Products. Top Quality Service & Great Prices. Offers invited.

Asking Price: £870,000
Turnover: £940,080

FREEHOLD


High-End Florist & Specialist Events Company
Manchester, Manchester, North West, UK

Corporate and Celebrity Clients. Fantastic Reviews. Brand New Website. Huge Scope for Future Growth. This is a very exciting opportunity to acquire a specialist events business which has a wealth of experience and a list of fantastic social-media rev...

Asking Price: £450,000
Turnover: £320,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
28
 
Jun
 

Administrators hopeful of finding buyer for Bristol transport firm | ADMINISTRATION

Bristol-based transport, trucking and railroad firm Toogood ...

 
27
 
Jun
 

Administrators seek buyer for listed pharmaceutical company | ADMINISTRATION

Listed pharmaceutical firm 4D Pharma Plc has fallen into adm...

 
24
 
Jun
 

E-commerce imports retailer up for sale for £1.6m | BUSINESS SALE

Deals Incorporated, a Manchester-based e-commerce retailer t...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
07
 
Oct
 

Cleveland Bridge assets to go to auction next month | COMMERCIAL PROPERTY

It has been confirmed that an auction of the property and as...

 
10
 
Sep
 

Cleveland Bridge property and assets to head to auction as search for a buyer fails | ADMINISTRATION

Administrators for structural engineering firm Cleveland Bri...

 
08
 
Sep
 

Assets for sale as Scottish wind turbine firm enters administration | ADMINISTRATION

Scottish wind turbine manufacturer CS Wind (UK) has fallen i...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2022. Business Sale Report Ltd. All rights reserved. www.business-sale.com.