Shares of JD Sports Fashion PLC (LON: JD.) soared over 7% today after reports emerged that the company is pulling out of talks with Debenhams administrators.
The exclusivity period for JD Sports to strike a deal ended without an agreement to save the embattled business. Yahoo! Finance reports that JD Sports is still interested in reaching a deal and it has not withdrawn completely from the process.
Apart from JD Sports, Mike Ashley’s Frasers Group may make another bid to save Debenhams after fresh reports that the owner of Newcastle United football club provided draft terms for a loan of up to £50 million in “emergency funding” to Sir Philip Green’s Arcadia Group, which is Debenhams’ biggest concession holder.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
“Should the company and the Arcadia Group’s efforts to agree an emergency funding package fail and the Arcadia Group enter into administration, the company would be interested in participating in any sale process,” Frasers said in the statement.
Arcadia is reportedly on the brink of administration after failing to secure £30 million in funding.
JD Sports share price gained over 7% to trade at 792.6p.
PEOPLE WHO READ THIS ALSO VIEWED:
