FTSE LIVE: Debenhams rejects new £200m Sports Direct offer; Cake Box sales rise

FTSE LIVE: Debenhams shares suspended after rejecting new £200m Sports Direct offer; Cake Box sales rise; UK stocks open in the red

  • Debenhams shareholders likely to be wiped out today if firm handed to lenders 
  • Cake Box set to report record revenues in its first full year as a listed company 
  • The FTSE 100 slipped 0.25 per cent at the open to 7,433.50 

Mike Ashley’s Sports Direct made a revised £200million rescue offer for Debenhams, but the department store chain said the proposal was ‘not sufficient’, making a pre-pack administration likely later today. The firm’s shares have been suspended.  

Newly listed sweet treats chain Cake Box said it expects to serve up a 30 per cent rise in full-year sales thanks to new store openings. 

In the red: The FTSE 100 slipped 0.25 per cent at the open to 7,433.50

In the red: The FTSE 100 slipped 0.25 per cent at the open to 7,433.50

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Markets | Mail Online

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