Frasers Group CEO Mike Ashley has reportedly made an increased offer to acquire struggling department store chain Debenhams, as the auction for the company enters its final stages. Having previously held a stake of nearly 30% in Debenhams, Ashley lost it when the company went into administration. The Covid-19 lockdown took a toll on Debenhams, leading to its administration earlier this year and now it is up for sale once again. While it is still unclear what Ashley’s plans for the chain would be if he were to acquire it, it is known that Reliance Retail of India has dropped out of the race. In case the sale is unsuccessful, Debenhams has enlisted the help of Hilco Capital to handle the liquidation process. Furthermore, the company is also in the process of selling its Danish retail business, Magasin du Nord, at an estimated value of £150 million to £200 million.

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– [More about the auction for Debenhams](
– [Information on Hilco Capital](