Landmark boss Micky Jagtiani has said he would consider a joint bid for Debenhams in a move first revealed by Retail Week (December 14).

Dubai-based entrepreneur Jagtiani told The Times his 7 per cent stake in Debenhams via Milestone Resources was likely to be “very short term”, but that the position may change if partners approached him.

Jagtiani has already announced that Landmark is partnering with Icelandic investor Baugur to launch a bid for US department store Saks. Baugur has a 13 per cent stake in Debenhams.

Jagtiani said: “If somebody came along and said, ‘Do you want to be a partner in Debenhams?’, I would consider it but, so far, nobody has stepped forward. [Debenhams] was a very good price and I figured it was bound to go up in the future.”

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