Frasers Group in talks to buy collapsed British retailer Debenhams

Mike Ashley's Frasers Group said it is in negotiations to buy collapsed British department store chain Debenhams from administrators in a potential rescue deal. Frasers said that it hoped a deal, previously reported by The Sunday Times, could be reached and jobs saved, but cautioned that the transaction was complicated by the recent administration of Debenhams-concession holder Arcadia Group.

"There is no certainty that any transaction will take place, particularly if discussions cannot be concluded swiftly," Frasers said in a statement on Monday.

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