Doubts over the future of Debenhams are growing after suitors were given three days to make a £300m rescue bid.
Prospective buyers, which include Mike Ashley’s Frasers Group, have been told to make a binding commitment by the close of business on Wednesday, or walk away.
If no bid is forthcoming the 124-store chain will be liquidated, or parts will be sold to the group of hedge funds that owns its debts, led by Silver Point Capital.
Frasers is understood to have tabled an offer of about £125m.
