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