British sports fashion retailer JD Sports is all set to take on Mike Ashley’s Frasers Group in the race to creating ‘department store of the future’.
And to make this happen, JD Sports is eyeing to acquire the ailing fashion retailer Debenhams and then rebase the rents and bring down the number of stores of retailer.
JD Sports is in talks with Debenhams and is considering to acquire the latter’s physical stores and e-commerce operations.
There are reports that JD Sports has been examining Debenhams’ finances in a secure data room, after being granted access lately.
The British fashion retailer, reportedly, may not rebrand Debenhams’s stores and website under JD Sports, but would instead prefer to retain the brand and help in turning it around.
The retailer started talks in this regard with Lazard and administrators at FRP Advisory on 23 November (Monday).
Earlier this month, Frasers Group had dropped out of the auction to buy Debenhams after it failed to match the £300 million price tag demanded by Debenhams’s advisers.
If, for any reason, this deal with JD Sports fails and Debenhams fails to find any buyer, it could still fall into liquidation.
Stay tuned to know what happens next!