Debenhams is reportedly pushing forward with a plan that could see a change of hands for the business.
The move comes after the high street retailer fell into administration for the second time in a year during the lockdown period in the UK.
According to The Mail on Sunday, investment bank Lazard has been appointed to oversee a process that could determine Debenhams’s future and handle any talks with potential buyers.
Possible outcomes include the current owners retaining the business, potential joint-venture arrangements that could involve new investors or a sale to a third party, Debenhams said in a statement.
The Mail on Sunday cited sources who said the existing backers want to conclude the process by the end of September and law firm Freshfields is also among the City firms understood to be advising on the process.
