Department store mulls stock market return
Department store Debenhams is weighing up a return to the stock market this year with a value of£3 billion.

Just over two years since the group was taken private, Debenhams has asked four banks to pitch for a review of the company's options and strategy ahead of a possible flotation.

Merrill Lynch, Morgan Stanley, Citigroup and Credit Suisse are believed to have put in proposals to handle a return to the stock market.

If the flotation goes ahead it will be one of the biggest this year.

In December 2003, a private equity consortium paid£1.7 billion for the business. Since then, chief executive Rob Templeman has improved operations and increased profits. Debenhams declined to comment this morning.