JD Sports ditches rescue takeover for Debenhams
December 2, 2020- Share:
Sportswear chain operator JD Sports Fashion has scrapped its plans for a rescue takeover of Debenhams. The struggling UK department store, which is owned by a consortium of lenders that includes hedge fund Silver Point Capital, started bankruptcy proceedings in April. The news follows the collapse of high street fashion retailer Arcadia, whose in-store concessions had accounted for 5% of Debenhams' sales, according to Reuters.
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