JD Sports’ rumoured Debenhams takeover deal could result in thousands more job losses

High Street Figures Released After Christmas Sales

With JD Sports the only suitor left in the race to buy department store chain Debenhams, a deal could reportedly be reached by Christmas.

However, industry experts, the Guardian revealed, have forecasted that JD Sports – which is more interested in the department store’s website – could ditch as many as half of Debenhams’ 124 department stores, perhaps selling to rivals like Marks & Spencer and John Lewis.

This move would leave thousands of Debenhams employees’ jobs hanging in the balance, in a year that has already seen it cut thousands of jobs.

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Investors showed their distrust in a JD Sports takeover of Debenhams, with the former’s shares falling 6% yesterday after news of its exclusive talks with the department store were revealed.

This has been a bad year for Debenhams. It went into administration for the second time in a year in April, with its owners considering selling for several months.

Read more about the ailing chain’s disastrous 2020 below:

Debenhams considers liquidation as it consults restructuring firm

Tags : DebenhamsJD Sports
Sam Lewis

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