Frasers Group, the British sports retailer owned by Mike Ashley, has accused the advisers of Debenhams of blocking it from making a bid for the struggling clothing retailer.
Talking about the same, Chris Wootton, CFO, Frasers, reportedly said that the Group was not made a part of the sale process owing to its refusal to sign a non-disclosure agreement (NDA).
The NDA would prevent the Frasers Group from talking to the landlords of Debenhams for 18 months.
Expressing disappointment over the whole issue, Chris said that restricting a willing buyer from being a part of the deal will surely have a negative effect on the price of Debenhams.
Chris added that the Frasers Group is the most likely of all to save jobs and it has all the rights to know how stores are performing prior to acquiring a business.
Meanwhile, as per the reports, Debenhams was concerned that Frasers Group could use the confidential information to negotiate separate deals with landlords so as to pick some of the best Debenhams stores.
Debenhams also added that the sale process is still at an early stage and there’s no guarantee that business will be sold.
Last month, Debenhams had hired Hilco Capital to work on contingency plans for a possible liquidation though the retailer has been constantly ruling out liquidation.
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