US giants eye Debenhams and Arcadia bid
By Rob Freeman | 14th December 2020
Potential buyers from both sides of the Atlantic are believed to be interested in troubled retailers Debenhams and Arcadia.
Arcadia entered administration at the end of last month while Debenhams began a winding-up process after administrators failed to find a buyer for the department store chain.
Mike Ashley's Fraser Group have been in talks for Debenhams, having had an earlier bid turned down for being too low, with reports over the weekend linking other retail giants with possible moves.
According to The Telegraph, US retailers Authentic Brands is in talks with administrators for both Debenhams and Arcadia Group.
Authentic Brands, which includes department store Barneys and Juicy Couture, bought Forever 21 and Brooks Brothers earlier this year.
Associated British Foods, owner of Primark, are interested in a number of Arcadia's brands according to The Sunday Times.
Administrators Deloitte are expected to receive offers before Christmas with other potential suitors believed to include Fraser Group, Marks & Spencers, River Island, Boohoo and Next.
The Mail on Sunday said Fraser Group is piecing together a bid for Debenhams' web business which is valued at around £500million.
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