JD Sports has emerged as a “serious contender” to rescue Debenhams, reports Oliver Gill in the Daily Telegraph. The move would “significantly escalate” its “long-running” rivalry with Mike Ashley, who controls Sports Direct and the department store House of Fraser. Ashley, whose previous £125m bid for Debenhams was rejected, has so far failed to find partners who can help him improve his offer. The interest from JD Sports will raise “fresh hopes” among Debenhams’ 12,000 staff, who have suffered “years of uncertainty”.
Not so fast, says Jim Armitage in the Evening Standard. While it is “anyone’s guess” who ends up with Debenhams, it is certain that “nobody will want all 124 stores”. It may be that nobody “will want any Debenhams-branded stores at all”, since it is hard to see how a “second-rate department store chain” will survive post-Covid-19 “when even your granny shops online”. One suspects that JD Sports’s interest is “being talked up to squeeze more cash out of Ashley”.
Still, even if it doesn’t end up buying Debenhams, it will at least be able to hold onto Footasylum, says Ashley Armstrong in The Times. In a “rare” defeat for the Competition and Markets Authority (CMA), the Competition Appeals Tribunal agreed with JD Sports that its £90m takeover of the rival footwear retailer didn’t represent a “substantial lessening of competition” as it “faced increasing competition” from Nike and Adidas’ websites. As a result, the deal will have to be referred back to the CMA and the planned divestment of Footasylum’s stores can be postponed for now.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Two thirds of easy access savings accounts come with restrictions – can you access your savings in an emergency?Out of the top 30 easy access savings on the market, 22 come with some sort of restriction on how fast you can access your money, according to new research.
-
Most popular London boroughs: Full list of in-demand places to move toA deluge of people move to or within Britain’s capital each year – but which area is the most popular? We look at the most in-demand London boroughs in 2025.
-
Global investors have overlooked some of China’s best growth stocksOpinion Dale Nicholls, portfolio manager, Fidelity China Special Situations, highlights three Chinese businesses where he’d put his money
-
How Next defied the odds and positioned itself as a British high-street stapleNext rose from a near-death experience and now thrives as a high-street staple. What's driving its success – and should you invest in the retailer?
-
Alok Sama on AI and how to invest in the future of technologyInterview Alok Sama, the former president and chief financial officer of Masayoshi Son’s investment vehicle SoftBank Group International, explains AI’s potential
-
The private equity puzzleListed private equity trusts still trade at large discounts, despite sales that validate their valuations
-
Why investors should avoid market monomaniaOpinion Today’s overwhelming focus on US markets leaves investors guessing about opportunities and risks elsewhere
-
Can Rachel Reeves save the City?Opinion Chancellor Rachel Reeves is mulling a tax cut, which would be welcome – but it’s nowhere near enough, says Matthew Lynn
-
Pierre-Édouard Stérin wants to make France great againConservative billionaire Pierre-Édouard Stérin is seeking to lead a political and spiritual renaissance across the Channel. The planning looks meticulous
-
Global investors have overlooked the top innovators in emerging marketsOpinion Carlos Hardenberg, portfolio manager, Mobius Investment Trust, highlights three emerging market stocks where he’d put his money
