The future of Debenhams could be decided this week, with potential buyers asked to place their bids by Tuesday afternoon. The ailing chain, which has 242 stores in the UK, is awaiting its fate, after axing dozens of outlets in the past year.
Lazard, the investment bank running the sale process, wants interested parties to submit bids by 5pm, according to Sky News sources.
The deadline comes as Debenhams' administrator, FRP Advisory, seeks to conclude a sale of the business by the end of this month, or prepare for alternative options that could entail thousands more job losses.
Troubled Debenhams appointed consultants at Hilco Capital a fortnight ago to help draw up contingency plans for a possible liquidation of the department store.
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