Debenhams private equity backers are considering floating the department store group as early as the final quarter of this year and are reviewing preliminary plans to assess the feasibility of an initial public offering. “We want the flexibility. The IPO window opens and shuts and we want to be in a position to float when the market allows,” one of Debenhams’ owners said. Debenhams declined to comment.
Any Debenhams offering could fall victim to weakness on the high street and jittery conditions in the IPO market. However, the retailer has proved one of the high street’s most resilient performers. Like for like sales rose 4.2 per cent in the six months ended February and debt investors were told of an even better performance in the second half.
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