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Sports Direct outbid for Debenhams Ireland

Debenhams is believed to be the frontrunner to acquire its Irish business out of examinership, seeing off competition from Mike Ashley’s Sports Direct, which was reportedly the only other “serious bidder”.

Debenhams Cork

Debenhams Cork

Ashley, who owns a 10.5% stake in the Debenhams group, put in an offer for the retailer’s Irish arm, but was outbid by the department store’s parent company, The Irish Independent has reported.

Ashley has been ramping up his retail presence in Ireland, snapping up Irish department store Heatons and the former Boyers store in Dublin, earlier this year.

Debenhams Ireland was placed in examinership last month, under the supervision of Kieran Wallace of KPMG.

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