Bidding for Jack Wills is getting under way with reports saying six interested parties are in the race. They’re said to include the UK’s two most acquisitive retail tycoons, Mike Ashley and Philip Day.
Sergio Bucher, the CEO who hoped to turn Debenhams around but has presided over its decline, is expected to set down from his role within the next few days with some observers saying news could come as soon as Monday.
Debenhams said on Tuesday it had rejected a “highly conditional” last-minute offer by its biggest shareholder Mike Ashley/Sports Direct to underwrite an increased £200m rights issue and it has filed for administration.
It's crunch week for Debenhams as reports suggest its resolve to keep Mike Ashley out is weakening, but with a bitter war of words still being waged, there's talk of an administration filing Monday and big job losses.