Sports Direct boss Mike Ashley revives interest in Debenhams

Oct 18, 2020

Mike Ashley revives long-running attempts to buy department store chain Debenhams

By Daily Mail City & Finance Reporter

Published: 16:51 EDT, 18 October 2020 | Updated: 17:22 EDT, 18 October 2020

Mike Ashley has revived his long-running attempts to buy department store chain Debenhams. 

The Sports Direct tycoon saw his 30 per cent stake wiped out with other shareholders when lenders took over. 

Back in the hunt: Mike Ashley is trying to acquire Debenhams again after it was placed in 'light touch' administration in April

Back in the hunt: Mike Ashley is trying to acquire Debenhams again after it was placed in ‘light touch’ administration in April

Now the 56-year-old is trying to acquire the business again after it was placed in ‘light touch’ administration in April. 

Ashley is bidding for Debenhams – which has 120 stores and 120,000 staff – via an auction, the Sunday Times said. 

He wants to open Sports Direct concessions in its stores and convert some into Frasers outlets. 

Debenhams is owned by private equity firms among other investors.

Advertisement

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.

Something you may find interesting…

[recent_products per_page="4" columns="4" orderby="rand" order="rand"]