Hopes of rescue for department store chain, as Ted Baker reports growing losses
Mike Ashley’s Frasers Group is in talks to buy Debenhams out of administration, raising hopes of a last-ditch rescue for the 240-year-old UK department store chain.
Without a buyer, Debenhams would be wound down after Christmas, with the loss of up to 12,000 jobs and closure of 124 stores by the end of March. Liquidators moved in last week to start clearing stock after a potential rescue deal with JD Sports collapsed. Administrators have been trying to find a buyer for Debenhams since the summer.
