Fresh fears of administration puts future of Bedford’s Debenhams store at risk

The future of Bedford’s Debenhams store is uncertain as the company faces fresh fears of heading into administration.

Earlier today (April 9) the department store rejected a £200million offer from Sports Direct and is now on the brink of falling under the control of its lenders.

Debenhams

Debenhams

It means the future of 25,000 jobs and 165 stores in the UK, including the store in Bedford High Street, is uncertain.

It comes after speculation in October that the Northampton store would be on a list of stores set for closure, but any decision was put off while the company worked to manage its debts.

Sports Direct’s CEO Mike Ashley reportedly offered a £150m lifeline deal to the company on Monday in exchange for becoming CEO, but this was rejected.

Today, the department store turned down a new £200m deal by the billionaire, who also already owns 29 per cent of Debenhams shares.

It would be the latest in a line of high street casualties for Bedford after losing BHS, Marks&Spencer which is due to close in May.

Updates to follow.