Sep 16, 2018

Sports Direct denies it wants Debenhams to fail

Sports Direct has denied claims that it wants struggling retailer Debenhams to collapse so it can buy it cheaply. Reports had suggested Sports Direct boss Mike Ashley could block Debenhams attempt to raise cash by selling its department store chain Magasin du Nord. Sports Direct's spokesperson said that Sports Direct had discussed "Various opportunities for business collaborations to support Debenhams over the last year or so", but said Debenhams had "Chosen not to move forward with these proposals, as is their right". Last week, an outgoing director from Sports Direct suggested the idea of a merger had been discussed at board level before later saying his remarks had been misinterpreted. Sports Direct later issued a formal statement confirming it did not plan to make a bid for Debenhams for six months.

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