Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Debenhams Plc       GB00B126KH97

DEBENHAMS PLC

SummaryQuotesNewsRatingsCompany 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Sports Direct weighs Debenhams options after bondholders back restructuring

share with twitter share with LinkedIn share with facebook
03/29/2019 | 06:34am EDT
FILE PHOTO: People walk past a Debenhams store in Stockport

LONDON (Reuters) - Sports Direct, the group run by Mike Ashley that is seeking control of Debenhams, said on Friday it was considering its options after the ailing department store group secured bondholder support for an alternative refinancing plan.

Sports Direct, which has a near 30 percent stake in Debenhams, said on Wednesday it was considering a 61.4 million pounds offer for the company.

The proposal was conditional on Ashley immediately being installed as Debenhams' chief executive.

Another condition was that the department store group terminate a process seeking agreement from bondholders to change the terms of their bonds so that it could press ahead with securing 200 million pounds of extra funds from lenders and pursue restructuring options.

Debenhams warned last week that those options would give lenders more control over the retailer and some of them could result in no equity value for its current shareholders.

Debenhams pressed ahead with seeking agreement from bondholders and said on Thursday that they had backed its plan.

Shares in Debenhams were down 6.6 percent at 2 pence at 0952 GMT, valuing the equity at 24 million pounds. As of Jan. 10 the firm had committed debt facilities of 520 million pounds.

(Reporting by James Davey; Editing by Keith Weir)


Stocks mentioned in the article
ChangeLast1st jan.
CHANGE INC. -0.85% 8210 End-of-day quote.464.65%
JUST GROUP PLC -2.83% 45.32 Delayed Quote.-42.63%
SPORTS DIRECT INTERNATIONAL 3.76% 392.2 Delayed Quote.-14.48%
WILL GROUP, INC. -0.59% 847 End-of-day quote.-32.35%
share with twitter share with LinkedIn share with facebook
All news about DEBENHAMS PLC
04/01DEBENHAMS : in urgent restructuring plan talks
AQ
03/12DEBENHAMS : Look Good Feel Better teams up with England Netball & Debenhams to h..
AQ
03/12DEBENHAMS : hires headhunters as hunt for new chief exec starts
AQ
03/04LUCY TIFFNEY X DEBENHAMS : Lucy tiffney to launch exclusive cook & dine collecti..
AQ
02/27DEBENHAMS : Cut rates, or we're outta here
AQ
02/13DEBENHAMS : Retail bosses urge chancellor to reform business rates in Budget
AQ
01/21DEBENHAMS : As one of Britain's oldest department store chains goes into adminis..
AQ
01/15DEBENHAMS : SETS ITSELF NEW SUSTAINABLE STANDARDS FOR THE 2020s
AQ
01/13DEBENHAMS : in talks with Aviva to offload its executive pensions
AQ
01/06DEBENHAMS : Appoints abigail comber as chief marketing officer
AQ
More news
Chart DEBENHAMS PLC
Duration : Period :
Debenhams Plc Technical Analysis Chart | MarketScreener
Full-screen chart
Managers
NameTitle
Mark Anthony Gifford Chairman
Nicola Kinnaird Independent Non-Executive Director
David Alexander Robertson Adams Independent Non-Executive Director
Stephen Sunnucks Director
Beatrice Madeleine Lafon Non-Executive Director