Mike Ashley’s Sports Direct said that it had offered to buy Debenhams’ Danish business, Magasin du Nord, for £100 million in cash, or more if the retailer could justify a higher valuation AlamyThe twists and turns in the crisis gripping Debenhams came thick and fast today as the department store retailer warned shareholders that they could be wiped out in a restructuring and Mike Ashley’s Sports Direct offered to buy one of its divisions. Debenhams issued a statement to the stock market first thing this morning serving notice that it is seeking agreement from its bondholders to change the terms of some of their securities as part of its drive to secure up to £200 million in funds. Gaining the funds would give the embattled high street retailer a range of alternatives to secure its future. Although it is not yet clear what the outcome of the negotiations will be, or if indeed they will be successful,…

Source: The Times March 22, 2019 17:03 UTC