Fresh fears of administration at Debenhams puts future of Northampton store at risk
Earlier today (April 9) the department store has rejected a £200million offer from Sports Direct and is now on the brink of falling under the control of its lenders.
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Hide AdIt means the future of 25,000 jobs and 165 stores in the UK - including the one in The Drapery in Northampton town centre - is uncertain.
Debenhams has been contacted for a comment.
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.
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Hide AdToday, 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 Northampton after losing House of Fraser, BHS, Marks and Spencers and ahead of the closure Dorothy Perkins.