Retailer has until 5pm on Monday to accept offer or give control of firm to its lenders
Debenhams has until 5pm on Monday to decide if it will accept a £150m rescue deal offered by the Sports Direct boss or give control of the company to its lenders.
The board of the department stores group is in talks with its lenders over whether to accept the terms offered by Mike Ashley over the weekend or opt for a pre-pack administration. The latter would wipe out shareholders, including Sports Direct, which has a stake of just under 30%. Debenhams also has the option of extending the deadline to continue talks with Sports Direct.
Continue reading...from Mergers and acquisitions | The Guardian http://bit.ly/2G9dNRb
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