Mike Ashley's Frasers Group plc (LSE:FRAS) said it is in negotiations to buy collapsed Debenhams plc from administrators in a potential rescue deal. Frasers said that it hoped a deal, previously reported by The Sunday Times, could be reached and jobs saved, but cautioned that the transaction was complicated by the recent administration of Debenhams-concession holder Arcadia Group Limited. There is no certainty that any transaction will take place, particularly if discussions cannot be concluded swiftly, Frasers said in a statement on December 7, 2020.
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