Mike Ashley is out of the running to acquire Debenhams after refusing to match the £300m price tag for the beleaguered department store chain.
Ashley is understood to have withdrawn from the running to buy Debenhams after he refused to match the price tag set by Debenhams’ advisers.
According to The Times, this means Debenhams will now face the choice of liquidating the business, selling off respective divisions to buyers or selling it back to the hedge funds that own its debts.
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