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
  • Corporate Services  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 / JD Sports emerges as final remaining bidder for Debenhams

JD Sports emerges as final remaining bidder for Debenhams

Wed, 25 Nov 2020 | BUSINESS SALE



Sportswear chain JD Sports is reported to be in exclusive talks over a rescue deal for beleaguered department store Debenhams. JD is said to be in discussions to acquire the whole of Debenhams’ business, which encompasses 12,000 staff across over 120 stores.

Debenhams’s UK business went into administration in April as it sought protection from creditors and relief during the COVID-19 pandemic. The company entered the pandemic with huge levels of debt and the 2020 administration came almost exactly a year after the company previously entered administration in 2019.

It has cut thousands of jobs, closed some stores and secured new lease terms on others since then. Lazard has been running an auction for the company since July, with Mike Ashley’s Frasers Group among the parties reported to have dropped their interest in acquiring the company.

Mike Ashley, a former shareholder before he was wiped out in the April 2019 administration, reportedly refused to match the £300 million asking price of Debenhams’ advisers.

Reports indicate that JD Sports could reach an agreement with Lazard and Debenhams’ administrators FRP over the coming days. However, if a deal falls through and a buyer cannot be found, the 232-year-old retailer could face liquidation.

The main hurdle to a deal is thought to be a buyer matching the value that creditors could realise through other means, such as a liquidation. Debenhams’ owners include Barclays and the Bank of Ireland, along with hedge funds such as Silver Point and Golden Tree.

The owners, who took control via the 2019 pre-pack administration, are said to not be interested in retaining ownership of Debenhams.

Should JD’s acquisition go through, it is thought that it would retain the Debenhams brand. Some reports suggest that JD will focus on turning Debenhams around in order to create a retail force to rival Frasers Group.

However, it is also thought that JD might trade the retailer through the festive period before reviewing its options in 2021, potentially seeking to rebase rents and reducing the retailer from over 120 stores to between 40-50.

According to separate reports, retailers including Next and Marks & Spencer are interested in acquiring parts of Debenhams’ business, while The Hut Group is said to have made an offer for the company’s website.


Find businesses for sale here.

If you are looking for an exit, we can help!


Share this article



Latest Businesses for Sale

Commercial Vehicle Business For Sale
UK Wide

• Leasehold premises – 8 years left • Well-presented Website • 20ft x 8ft Portable Office • 10ft x 8ft Store room container • Water & electric on site • Site can hold 40 vehicles • Vehicles not included in sale – can be purchased on top of sal...

Asking Price: £270,000
Turnover: £701,493

LEASEHOLD


Supplier of Outdoor Sporting Equipment
UK Wide

Supplies a comprehensive range of specialist high-end sporting equipment, with individual models retailing at up to £5k. Primarily sells to the general public, holiday parks and activity centres, with additional revenue generated by the film and TV p...

Asking Price: Offers Invited
Turnover: £392,000

RELOCATABLE


E-Commerce Provider of Printed Garments & Accessories
UK Wide

Rapidly expanding online retailer of distinguished garments and accessories serving a diverse client base comprising both B2B and B2C custom. Using in-house printing and manufacturing software the company has cultivated a unique portfolio of clothing...

Asking Price: Offers Invited
Turnover: £4,584,000


View more businesses for sale

News Search

Latest News

 
20
 
May
 

Administrators seek buyer for gourmet instant noodle brand | ADMINISTRATION

Bournemouth-based instant foods brand Mr Lee’s Pure Fo...

 
19
 
May
 

Knights continues acquisition-lead growth strategy with £11.5m deal for law firm | BUSINESS SALE

Legal services company Knights has acquired Portsmouth-headq...

 
18
 
May
 

Insolvencies forecast to surge 37 per cent in 2022 as inflation hits 40-year high | BUSINESS NEWS

Businesses in the UK look set to come under continuing press...

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.