Mike Ashley in last-ditch talks to buy Debenhams

Sports Direct owner confirms negotiations are ongoing

Shoppers queue outside Debenhams on Oxford St, London, on Saturday. Picture: Yui Mok/PA

Mike Ashley’s Frasers Group is in last-ditch talks to buy the ailing Debenhams department store in a move which could save thousands of jobs.

The owner of the Sports Direct brand confirmed it was in negotiations in an emailed statement and said “we hope to be able to save as many jobs as possible” at Debehhams, one of the UK’s most iconic retail brands.