×
3 578
Fashion Jobs
FRASERS GROUP
Information Security Governance Analyst
Permanent · SHIREBROOK
L'OREAL GROUP
l'Oreal Luxe Multibrand Retail Account Manager
Permanent · London
COTY
National Account Manager
Permanent · London
TK MAXX
Loss Prevention Officer-tk Maxx High Street Kensington-Full Time
Permanent · London
HARRODS
Uniformed Security Officer - Thatcham Distribution Centre
Permanent · THATCHAM
HARRODS
Senior CRM Retention Executive
Permanent · LONDON
JOHN LEWIS
Section Manager Stock And Inventory – Nights
Permanent · BLETCHLEY
SELFRIDGES
HR Administrator (Part-Time)
Permanent · ENDERBY
SELFRIDGES
Digital Personal Shopping Content Manager
Permanent · LONDON
EVERLAST GYMS
General Assistant - Everlast Fitness
Permanent · POOLE
EVERLAST GYMS
General Assistant - Everlast Gyms
Permanent ·
ZARA
Zara High Wycombe - General Manager
Permanent · HIGH WYCOMBE
HEAD OFFICE
Senior Finance Analyst, Commercial Finance
Permanent · BRACKNELL
JOHN LEWIS
Section Manager Stock And Inventory – Nights
Permanent · BLETCHLEY
HOUSE OF FRASER
Loss Prevention Supervisor - House of Fraser
Permanent · READING
EVERLAST GYMS
General Assistant - Everlast Fitness
Permanent · CAMBRIDGE
BERSHKA
New Position - Bershka Operations Manager - Stratford
Permanent · LONDON
AVON
Internal Audit Manager Natura &CO
Permanent · LONDON
COTY
Trade Marketing Manager
Permanent · London
JOHN LEWIS
Section Manager Customer Delivery Hub
Permanent · LONDON
FLANNELS
Beauty Brand Manager – Pat Mcgrath Labs
Permanent · ROTHERHAM
CLAUDIE PIERLOT UK
Stock Contoller - Permanent - Selfirdges London
Permanent · LONDON
Published
Nov 23, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

JD Sports now in exclusive talks on Debenhams deal

Published
Nov 23, 2020

JD sports is believed to be in exclusive talks about buying Debenhams with the company reportedly interested in acquiring the entire business pre-Christmas.


Photo: Sandra Halliday



The Times reported late on Monday that talks with the Debenhams administrators at FRP and its advisors Lazard began earlier in the day.

The department stores chain currently operates 124 locations, although most of these have been closed since early November due to the English lockdown. It employs around 12,000 people at present and went into administration in April, its second administration filing in as little as two years.

If a deal happens, it will be a relief for Debenhams’ staff and would also be a surprise to some people who had assumed that liquidation was beckoning for the UK's oldest department stores chain.

That said, it's not yet a done deal and there are still stumbling blocks, including issues around store leases with the company having been talking to landlords for much of this year about renegotiating rent deals. 

And even if the company is acquired by JD Sports, it still seems likely that Debenhams could close more of its stores, with some suggestions talking of a restructuring plan shrinking it down to 60 locations.

Yet Debenhams does have some key selling points. It remains a popular destination with a powerful beauty business and an e-commerce site that’s reportedly the big attraction for JD. The Times also suggested that the prospect of being able to obtain lots of high street space via a Debenhams buy is appealing to to its potential new owner.

But neither of the parties have commented, so it's all speculation at present.

If it does happen, former Debenhams shareholder Mike Ashley is likely to be unhappy. The Frasers Group business that he controls built up almost-30% stake in Debenhams before its first administration filing, with that stake wiped out when the company failed and was taken over by its lenders.

He had attempted to take control at the time and had also been interested in buying Debenhams in the latest auction. But he accused its advisors of freezing him out, although they said that he wasn't offering a high enough price for the business.

An acquisition of that business by JD Sports would create even more intense rivalry between Frasers and JD. Frasers owns Sports Direct and House of Fraser. The two have been bitter rivals for many years and with both potentially owning a giant UK sports chain as well as a major department store chain each, it would certainly be an interesting situation.

Like Frasers, JD sports has a reputation for buying struggling brands, such as Footasylum and Pretty Green. And while many of them tend to be much smaller than the Debenhams department stores business, JD’s recent acquisition of American chain Finish Line for $558 million shows how it's prepared to stump up big money in areas that it really believes have potential.

Copyright © 2023 FashionNetwork.com All rights reserved.