// JD Sports still in the running for Debenhams
// Sports retailer has reportedly gained access to “secure data room” in order to examine the sale
// News comes days after Mike Ashley withdrew from the bid after allegations of being “excluded” from sales process
JD Sports has emerged as a key suitor in the sale of Debenhams, according to a report by The Telegraph.
The sportswear retailer is believed to be examining Debenhams’ finances in a secure data room, and has been granted increased access in the last fortnight, as reported in The Telegraph this weekend.
JD Sports was previously linked to the sale of the beleaguered department store chain, but it was believed JD Sports hadn’t tabled a firm offer.
READ MORE: Mike Ashley lashes out after being “excluded” from Debenhams auction
The news comes 10 days after Mike Ashley’s Frasers Group reportedly withdrew from the bidding, after refusing to match the £300 million price tag set by Debenhams’ advisors.
Debenhams’ bidding process is being managed by bankers at Lazard and insolvency firm FRP Advisory.
Ashley alleged he was “excluded” from the sales process, and that the data provided to Frasers Group in order to ascertain the suitability of a sale had been “woefully inadequate”.
The retail tycoon said it was “almost unbelievable” that Frasers Group was expected to make a bid on the vague information, according to a report earlier this month by The Sunday Times.
The deadline to sell Debenhams has been extended after the second lockdown in England was announced for November.
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3 Comments. Leave new
FRP Advisory these guys should be investigated, Kvoos question marks raised, force India legal challenge raised against them. How many times until the authorities take them to task. So many peoples lives are at risk and its being handled by these people again. Very Odd
Debenhams’ bidding process is being managed by bankers at Lazard and insolvency firm FRP Advisory.
Very unusual contender to still be in the running for Debs, whist seemingly better suiters have been blocked. Odd.