LONDON (Reuters) – Struggling British department store group Debenhams said on Friday its shareholders could be wiped out as a result of some of the restructuring options it is considering and rebuffed a bid by Sports Direct to buy its Danish business.
FILE PHOTO: A new Debenhams department store in a shopping centre in Watford, Britain, September 24, 2018. REUTERS/Peter Nicholls/File Photo
Debenhams has issued a string of profit warnings and lost 90 percent of its market value in the past year. The company is trying to fend off an attempt by its largest shareholder, Mike Ashleys Sports Direct, to take control of the business.
On Friday, Debenhams said it was seeking 200 million pounds ($262 million) of additional funds from lenders, all…