×
2 609
Fashion Jobs
ESTEE LAUDER
Clinique - Consultant - m&s Newcastle - 15 Hours - Part Time, Permanent
Permanent · Newcastle upon Tyne
ESTEE LAUDER
jo Malone London - Marketing And Consumer Engagement Director
Permanent · London
AESOP
Retail Consultant | Part-Time, Permanent | Aesop Selfridges Exchange Square, Manchester
Permanent · Central
BOOHOO
Print Sales Account Manager
Permanent · MANCHESTER
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
ESTEE LAUDER
Mac Cosmetics - Business Manager - Mac Stratford2, London - 37.5 Hours / Week - Full Time, Permanent
Permanent · London
HARRODS
Brand Manager
Permanent · LAKESIDE
HARRODS
Uniformed Security Officer
Permanent · LONDON
VF INTERNATIONAL
Senior Distribution Systems Specialist
Permanent · COALVILLE
ESTEE LAUDER
Bobbi Brown, la Mer And Darphin - CRM & Insights Assistant
Permanent · London
HARRODS
Food Supply Manager
Permanent · LONDON
JOHN LEWIS
Loss Prevention Partner
Permanent · CAMBRIDGE
HEAD OFFICE
Cyber Security Lead – Incident Response
Permanent · BRACKNELL
HEAD OFFICE
Delivery & Operations Manager
Permanent · BRACKNELL
BOOHOO GROUP
Product Manager
Permanent · MANCHESTER
DEBENHAMS
CRM Executive
Permanent · LONDON
PRETTYLITTLETHING
Business Analyst
Permanent · MANCHESTER
PRETTYLITTLETHING
Buying Admin Assistant
Permanent · MANCHESTER
BOOHOO GROUP
Warehouse Operative - pm Shift
Permanent · WELLINGBOROUGH
BOOHOO GROUP
Product Insights Manager
Permanent · MANCHESTER
BOOHOO GROUP
Technical Delivery Manager
Permanent · MANCHESTER
BOOHOO GROUP
Business Analyst
Permanent · MANCHESTER
Ads
Published
Oct 19, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Ashley's Frasers Group raises offer to buy Debenhams - report

Published
Oct 19, 2020

It seems that Frasers Group CEO Mike Ashley is once again targeting Debenhams as a takeover candidate with a report at the weekend saying he's renewing his interest in the department stores chain. 


Frasers Group has increased its Debenhams bid, a report claims



The Sunday Times said that the auction of the struggling company is reaching its final stages and Ashley has reportedly improved his offer for the business.

The retail billionaire previously built up a stake of close to 30% in Debenhams when it was a listed company and pushed hard to have more influence over the direction the retailer was taking. However, he was repeatedly rebuffed and lost the entire stake, at a reported cost of £150 million, when the listed parent company went into administration and the business was taken over by a consortium of its lenders.

But it would seem his belief that Debenhams would be better under his control than under its current set up has found some justification given the fact that the company went into administration early in the lockdown and is now up for sale again.

Yet there’s a big question over what his plans would be if he was successful in acquiring the chain that competes with Frasers Group’s House of Fraser chain. The company has plans to convert HoF into a more upscale department store business called Frasers. Would he want to run Debenhams alongside the Frasers business, perhaps as a more mass-market department store operation? Or would he want to divide its properties between the Frasers banner and his other chains, such as Sports Direct.

It's unclear who else is bidding for the company, although it's known that the owner of India's Reliance Retail has dropped out of the race. Debenhams has drafted in Hilco Capital to run a liquidation process in the event of the sale process being unsuccessful.

In a separate transaction, the company has also put its more buoyant Danish retail business Magasin du Nord up for sale with reports saying it’s targeting a price between £150 million and £200 million.

Copyright © 2022 FashionNetwork.com All rights reserved.