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.
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: