JD Sports granted data room access for Debenhams deal

// JD Sports still in the running for Debenhams

// Sports retailer has reportedly gained access to “secure data room” in order to examine the sale

// News comes days after Mike Ashley withdrew from the running after claims of being “excluded” from sales process

JD Sports has emerged as a key suitor in the sale of Debenhams, according to a report by The Telegraph.

The sportswear brand is believed to be examining Debenhams’ finances in a secure data room, and is thought to have been granted increased access in the last fortnight, as reported in The Telegraph this weekend.

JD Sports was previously linked to the sale of the beleaguered department store chain, but it was believed JD hadn’t tabled a firm offer.

READ MORE: Mike Ashley lashes out after being “excluded” from Debenhams auction

The news comes ten days after Mike Ashley reportedly withdrew Frasers Group from the running, after refusing to match the £300 million price tag set by Debenhams’ advisors.

The bidding process is being managed by bankers at Lazard and insolvency firm FRP Advisory.

Ashley has previously claimed he was “excluded” from the sales process, and that the data provided to Frasers in order to ascertain the suitability of a sale had been “woefully inadequate”.

The billionaire said it was “almost unbelievable” that Frasers Group was expected to make a bid on the vague information, according to a report earlier this month by The Sunday Times.

The deadline to sell Debenhams has been extended after the second lockdown in England was announced for November.

Click here to sign up to Retail Gazette’s free daily email newsletter

The post JD Sports granted data room access for Debenhams deal appeared first on Retail Gazette.