JD Sports is now the only remaining bidder for Debenhams, with an agreement about the chain’s future expected within days.
Failure to secure a deal would likely result in the liquidation of the company. JD Sports is likely to close around 60 stores.
Debenhams’ owners, which include hedge funds Golden Tree and Silver Point along with Barclays and Bank of Ireland, took control via a “prepack” administration in early 2019 after acquiring the majority of Debenhams’ debt in a transaction that wiped out Frasers’ 29% equity investment in the company.
