News that department store’s supplier is in administration is likely to kill off a deal
JD Sports is set to pull out of talks over a rescue deal for Debenhams on Tuesday, putting thousands of jobs at risk at the struggling department store group.
Last-ditch negotiations to secure a deal were continuing but the news on Monday night that Debenhams’ major supplier Arcadia had collapsed into administration, as well as uncertainty about conditions on the high street and negative reaction from shareholders, are thought to have cooled JD’s interest.
