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Debenhams warns any Sports Direct offer won't address funding concerns

Debenhams warns any Sports Direct offer won't address funding concerns
FILE PHOTO: A new Debenhams department store is seen in a shopping centre in Watford, Britain, September 24, 2018. REUTERS/Peter Nicholls/File Photo   -   Copyright  Peter Nicholls(Reuters)
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LONDON (Reuters) – Ailing department store group Debenhams said on Tuesday it would give “due consideration” to any offer for the British company from major shareholder Sports Direct but warned an offer would not, in itself, address its immediate funding needs.

“Therefore, the company will continue with its plan to obtain the funding required,” Debenhams said.

Sports Direct had said late on Monday it was considering buying the whole of Debenhams to prevent a restructuring that could wipe out shareholders. It currently has a near 30 percent stake.

(Reporting by James Davey, editing by Louise Heavens)

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