There are reports this morning that Mike Ashley’s Fraser Group is looking at the possibility of putting together a rescue package for collapsed department store Debenhams. The news will come as a glimmer of hope for thousands of staff members who face losing their jobs over the coming weeks.
A closing down sale has commenced, including at the Debenhams store at Old Market Hereford.
The Fraser Group confirmed that it was in discussions with the administrators of Debenhams by saying:
“Whilst Frasers group hopes that a rescue package can be put in place and jobs saved, time is short and the position is further complicated by the recent administration of the Arcadia group, Debenhams’ biggest concession holder.
“There is no certainty that any transaction will take place, particularly if discussions cannot be concluded swiftly.”
