Debenhams plc Statement in response to Sports Direct proposal (8530S)

TIDMDEB

RNS Number : 8530S

Debenhams plc

14 March 2019

DEBENHAMS PLC

Statement in response to Sports Direct proposal

Debenhams acknowledges Sports Direct's statement issued at 6.30pm last night and confirms receipt of its proposal to provide a GBP150m, unsecured 12 month term loan to the company, subject to certain conditions.

Any third party loan offer on these terms would require both the consent of our RCF Lenders and Noteholders and material amendments to existing facilities.

Nevertheless, the board will give careful consideration to the proposal and will engage with Sports Direct and other stakeholders regarding its feasibility in the interests of all parties.

ENDS

Enquiries:

 
 Brunswick Group    Craig Breheny/Fiona Micallef-Eynaud 
                    020 7404 5959 
                    debenhams@brunswickgroup.com

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END

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March 14, 2019 03:01 ET (07:01 GMT)

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