Frasers Group Plc (LON:FRAS) has today confirmed that it is in negotiations with the administrators of Debenhams’ UK business regarding a potential rescue transaction for Debenhams’ UK operations. Whilst Frasers Group hopes that a rescue package can be put in place and jobs saved, time is short and the position is further complicated by the recent administration of the Arcadia Group, Debenhams’ biggest concession holder. There is no certainty that any transaction will take place, particularly if discussions cannot be concluded swiftly.
Frasers Group currently owns brands such as Flannels, an exceptional curation of the latest men’s and women’s luxury designer clothing and accessories, Sports Direct, an unrivalled collection of the highest quality sports/lifestyle apparel and accessories, USC, a company that celebrates colourful individuality through one shared spirit. From coastal roots in the town of Salcombe, Jack Wills a heritage fashion and lifestyle brand. Game the UK’s leading games retailer with great deals on consoles, accessories and the latest pre-orders and Evans Cycles the UK’s leading specialist bike shop.
