DEBENHAMS is under threat from the imminent collapse of Sir Philip Green’s Arcadia empire.
Several Arcadia brands have outlets within Debenhams stores — so JD Sports is said to be backing away from a rescue deal for the department store chain.
It could lead to Debenhams, which employs 12,000 staff across 124 stores, being liquidated.
Specialist firm Hilco is lined up to handle a potential winding-down.
It could push Debenhams into the hands of Sports Direct tycoon Mike Ashley, who has made a series of bids.
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Arcadia could go into administration today if a rescue deal is not found.
Mr Ashley offered a £50million emergency loan on Saturday but fierce rival Sir Philip dismissed it as “a non-starter”.
He has been relaxing on the deck of his £100million yacht in millionaires’ paradise Monaco.
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